Coinidol.com: Litecoin Tumbles but Remains Stable at $50

Litecoin (LTC) has continued to decline since falling below the moving average lines on March 27.

The cryptocurrency has dropped to a low of $51 as it nears the critical support level of $50. As the altcoin's decline continues, two scenarios are possible.

First, the current price range will be maintained if the altcoin retraces and finds support above the $50 low.

Resistance Levels – $100, $120, $140

Support Levels – $60, $40, $20

The cryptocurrency is trading below the 21-day and 50-day moving averages, approaching key support at $50. The 21-day simple moving average above the horizontal 50-day SMA indicates a sideways trend.

However, the price is below both the 21-day and 50-day moving averages, which are trending downwards on the 4-hour chart.

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.