CandleFocus Litecoin (LTC) at a Crossroads: Can It Rebound and Rally?
2024-11-21
Author: Content Editor
The price of Litecoin is currently consolidating above the $80.00 level against the US Dollar. If it manages to clear the $88.00 resistance zone, it could experience a fresh increase. After forming a base above $85, Litecoin saw a positive move and broke through resistance levels at $88 and $90. The price gained over 10% and reached a high of $98 before experiencing a pullback. It dipped below $88 and tested $82 before forming a low at $81.69. Currently, the price is consolidating losses below the 23.6% Fib retracement level. Litecoin is trading below $88 and the 100 simple moving average. The immediate resistance is near the $85.00 zone, while the next major resistance is at $88. If the price fails to clear the $86 resistance level, there could be another decline. The next major support levels are at $82 followed by $80, and any further losses may send the price toward the $75 support. The technical indicators, such as the MACD and RSI, suggest a bearish trend for Litecoin.
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