Litecoin (LTC) at a Crossroads: Can It Rebound and Rally? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	17,233,836,970	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.004322	2.22%	0.199104	0.19875	0.198993

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.199114	0.193276	0.194782	0.194782	0.077142 - 0.207058

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	08:48:55	251.43	0.199104	USD

Price x Volume	Volume	Base Symbol	Related Pairs
83,925.82	427,249.42	TRX	TRXEUR	TRXGBP	TRXBTC

Litecoin (LTC) at a Crossroads: Can It Rebound and Rally?

21/11/2024 5:08am

NEWSBTC

Litecoin price is consolidating above the $80.00 level against the US Dollar. LTC could start a fresh increase if it clears the $88.00 resistance zone. Litecoin is showing positive signs from the $80 support zone against the US Dollar. The price is now trading below $88 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC/USD pair (data feed from Kraken). The price could start a fresh increase if it clears the $88.00 resistance zone. Litecoin Price Eyes Fresh Increase After forming a base above $85, Litecoin started a fresh increase. LTC price broke the $88 and $90 resistance levels to move into a positive zone, like Bitcoin and Ethereum. The price gained over 10% and even cleared the $95 level. A high was formed at $98 before there was a pullback. The price dipped below $88 and tested $82. A low was formed at $81.69 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low. Litecoin is now trading below $88 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $85.00 zone. There is also a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC/USD pair. The next major resistance is near the $88 level or the 50% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low. If there is a clear break above the $88 resistance, the price could start another strong increase. In the stated case, the price is likely to continue higher toward the $92 and $95 levels. Any more gains might send LTC’s price toward the $100 resistance zone. More Losses in LTC? If Litecoin price fails to clear the $86 resistance level, there could be another decline. Initial support on the downside is near the $82 level. The next major support is forming near the $80 level, below which there is a risk of a move toward the $75 support. Any further losses may perhaps send the price toward the $68 support. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for LTC/USD is below the 50 level. Major Support Levels – $82.00 followed by $80.00. Major Resistance Levels – $86.00 and $88.00.

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