Litecoin’s Range Remains below $57

The price of Litecoin (LTC) has stabilised and remained above the $54 support level since April 13.

Litecoin Price Long-Term Prediction: Bearish

The formation of Doji candlesticks has resulted in stationary price movement. Price action has been limited as the Litecoin price consolidates above the moving average lines but stays below the $57 high. The small, indecisive candlesticks indicate traders’ uncertainty about the market’s direction. The LTC price will rise as long as it remains above the moving averages. If the initial resistance is broken, Litecoin could reach a high of $60.

However, if buyers fail to break the recent high, the current price range will persist above the moving averages. Conversely, the altcoin will fall to lows of $54 and $52 if sellers push the price below the moving average lines.

Technical Indicators:

• 
  Resistance Levels – $100, $120, $140

• 
  Support Levels – $60, $40, $20

Litecoin Indicator Analysis

The price bars are positioned above the horizontal moving average lines. The price has remained stagnant, stabilising above the moving averages, due to the presence of Doji candlesticks. On the 4-hour chart, the price bars are above the upward-sloping moving average lines. The 21-day SMA is above the 50-day SMA, indicating a bullish trend.

What Is the Next Move for Litecoin?

LTC is currently trading in the bullish trend zone. On the 4-hour chart, the altcoin is trading above the moving averages but below the $57 high. Price movement has been constrained by the formation of Doji candlesticks. If the cryptocurrency recovers and breaks above the $57 level, it will appreciate. Otherwise, it will extend its range.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.