2024

Litecoin

Resistance

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   Jan 09, 2024 at 09:43 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/5da/900_900_1/95yemfu6mezou2sgw64f7dzhv3ecu63p.jpg" width="900" height="563" alt="Litecoin has slid all the way down the chart" title=""> 
 <p><strong>The price of Litecoin (LTC) has fallen below the moving average lines, but consolidation has continued above the $64 support level.</strong></p> 
 <h2 style="text-align: justify;" id="long-term-outlook-for-the-litecoin-price-bearish">Long-term outlook for the Litecoin price: bearish</h2> 
 <p style="text-align: justify;"> According to the <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com, the price of the altcoin fell to $56 during the price drop on January 3, but the bulls bought the dips. The altcoin continues to rise today after climbing back above $64. The high of $68 serves as the first resistance for the upside momentum. After the initial barrier at $68, the cryptocurrency is bearish.&nbsp; </p> 
 <p style="text-align: justify;"> On the downside, the altcoin will fall and retrace its steps to the previous low at $56 should the sellers breach the existing support.&nbsp; </p> 
 <p style="text-align: justify;"> However, should the current support hold, Litecoin will be forced to move between $64 and $71. In the meantime, Litecoin pulls back towards its current support. </p> 
 <h2 style="text-align: justify;" id="analysing-the-litecoin-indicators">Analysing the Litecoin indicators</h2> 
 <p style="text-align: justify;"> Although the price of LTC is below the moving average lines, indicating a further decline, the market has already reached bearish exhaustion. At the moment, the price bars of the 4-hour chart are between the moving average lines. This indicates that the cryptocurrency may fluctuate. </p> 
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3> 
 <p style="text-align: justify;"> <b>Resistance levels: $100, $120, $140</b> </p> 
 <p style="text-align: justify;"> <b>Support levels: $60, $40, $20</b> </p> 
 <p style="text-align: justify;"> <b><img width="1024" alt="LTCUSD_(Daily Chart) – Jan. 09.jpg" src="https://cdn.thebittimes.com/images/2024/01/09/66cee77aa3561ed039278ebbc13ef213.webp" height="551" title="LTCUSD_(Daily Chart) – Jan. 09, 2024"><br> </b> </p> 
 <h2 style="text-align: justify;" id="what-s-the-next-move-for-litecoin">What's the next move for Litecoin</h2> 
 <p style="text-align: justify;"> Litecoin has slid all the way down the chart. The value of the digital asset has fallen to $56, close to the $53 breakout on August 17, 2023. The altcoin is making a comeback today as it holds above the $64 support level. The longer candlestick tails at the bottom of the chart indicate strong buying pressure at lower prices.<br> </p> 
 <p style="text-align: justify;"> <img width="1024" alt="LTCUSD_4 - Hour chart -Jan .09.jpg" src="https://cdn.thebittimes.com/images/2024/01/09/bda571b230a50f8a5d7e6b5b31b48f7d.webp" height="551" title="LTCUSD_4 - Hour chart - Jan.09, 2024"><br> </p> 
 <p style="text-align: justify;"> Previously Coinidol.com reported that Litecoin price was in the positive trend zone since the breakout on December 26.&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #959595;">Disclaimer. This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.</span></i> </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/litecoin-price-pulls-back-and-faces-first-resistance-at-68-tbt76025.html">https://thebittimes.com/litecoin-price-pulls-back-and-faces-first-resistance-at-68-tbt76025.html</a></p>

Litecoin Price Pulls Back And Faces First Resistance At $68

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