2024

Litecoin

Strong

Resistance

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   Jan 17, 2024 at 08:35 // 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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 <p><strong>The price of Litecoin (LTC) has fallen again as it encounters rejection at the $76 overhead resistance level. LTC price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="long-term-outlook-for-litecoin-price-bearish">Long-term outlook for Litecoin price: bearish</h2>
 <p style="text-align: justify;">Litecoin is currently trading at $69.39 after falling below the moving average lines. On the upside, buyers have failed to sustain their upside momentum above the $76 high since November 12.</p>
 <p style="text-align: justify;">The long candlestick wick from November 12, 2023 indicates strong selling pressure at the $76 overhead resistance level. Litecoin is now in a downtrend and could fall further. The decline will begin if it is rejected at the moving average lines. The downward momentum will continue to the lows of $65 or $63.</p>
 <h2 style="text-align: justify;" id="analysis-the-litecoin-indicators">Analysis the Litecoin indicators</h2>
 <p style="text-align: justify;">The rejection at $76 has caused the price bars to fall below the moving average lines. Once the price bars fall below the moving average lines, the altcoin is at risk of a decline. The price bars are marked by doji candlesticks, which limit the price movement. The horizontal moving average lines indicate a sideways trend.</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.17.jpg" src="https://cdn.thebittimes.com/images/2024/01/17/3794ceeaca5665433d8eb14963e45ae8.webp" height="491" title="LTCUSD_(Daily Chart) – Jan.17, 2024"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-litecoin">What is the next move for Litecoin</h2>
 <p style="text-align: justify;">Litecoin has fallen into the downtrend zone and is trading in the previous range bound zone between $60 and $70 price levels. The altcoin has fallen above the $69 support and has resumed consolidation above it. The price action has remained stagnant due to the doji candlesticks.</p>
 <p style="text-align: justify;"><img width="1024" alt="LTCUSD_4 - Hour chart -Jan .17.jpg" src="https://cdn.thebittimes.com/images/2024/01/17/2f1bae7aecaf895ed6a4158c9c07945f.webp" height="491" title="LTCUSD_4 - Hour chart -Jan .17, 2024"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" 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="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/litecoin-slips-below-critical-support-after-strong-rejection-at-76-tbt76851.html">https://thebittimes.com/litecoin-slips-below-critical-support-after-strong-rejection-at-76-tbt76851.html</a></p>

Litecoin Slips Below Critical Support After Strong Rejection At $76

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