The Litecoin price is recovering, but it faces resistance at $110

The Litecoin price is recovering, but it faces resistance at $110

Apr 05 2024 at 13 :31 // Price


After a rejection of $110, the price of Litecoin has fallen above its moving average. CryptoGuestPosts.com provides a price analysis.

Bullish long-term outlook for Litecoin's price

The cryptocurrency shows a pattern with higher highs, and higher lows. Positively, altcoins will resume their uptrend once they pull back above the moving-average lines. The LTC will continue to rise and test the resistance level of $110

If the altcoin breaks above the $110 barrier, it will reach a new high of $144. If the price falls beneath the 21-day SMA Litecoin returns to its previous low $77. Litecoin currently trades at 97.76 US dollars.

Analysis of Litecoin indicators

The LTC price has risen above the moving average line after the recent drop. This shows that the cryptocurrency's upward trend is continuing. The price bars are still below the moving-average lines on the 4-hour graph, which indicates the current trend.

Technical indicators

Resistance Levels: $100, $120 and $140

Support levels: $60, $40, $20

What is next for Litecoin?

Litecoin's price is declining above its moving-average lines. As the price continues to rise, it is retracing above the moving-average lines. Doji candlesticks appear on the 4-hour chart and slow down the price movement. The extended candletails indicate that strong buying is occurring above the current support.

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Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.

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