The cost of Litecoin (LTC) is in an uptrend sooner than falling below the inviting average lines and above the $70 toughen stage.
Long-term forecast for the Litecoin label: bearish
The altcoin recovered from an earlier decline sooner than hitting resistance at $110. On March 29, investors pushed the altcoin to a high of $110. The bulls examined the resistance dwelling 3 times but would maybe well now not defend their upside momentum above this stage.
The cryptocurrency rapid fell below the inviting average lines on April 3 after retracing above the 21-day SMA. Litecoin fell to a low of $70, but bulls sold on dips. LTC/USD is now at $81.15.
On the downside, Litecoin is consolidating above the $Seventy nine toughen attributable to the doji candlesticks. On the upside, Litecoin will proceed a particular pattern if investors defend the associated rate above the inviting average lines or spoil the resistance at $100.
Prognosis of Litecoin indicators
After the hot plunge on April 13, 2024, the associated rate of the cryptocurrency is now below the inviting average lines. The altcoin is now in a downtrend and can plunge extra. On the different hand, the April 13 candle confirmed an extended tail, indicating solid seeking out above the $70 toughen.
Technical indicators
Resistance stages: $100, $120, $140
Purple meat up stages: $60, $40, $20
What’s subsequent for Litecoin?
After the discontinuance of the decline, Litecoin is now procuring and selling in a sideways pattern. On the 4-hour chart, the altcoin is procuring and selling above the $75 toughen but below the $83 resistance stage. Doji candlesticks get itsy-bitsy the associated rate glide inside a obvious vary. The altcoin will produce once the present label vary is broken.
Disclaimer. This evaluation and forecast are the non-public opinions of the author and are no longer a advice to amass or promote cryptocurrency and would maybe well now not be considered as an endorsement by CoinIdol.com. Readers must enact their be taught sooner than investing in funds.
