The Litecoin (LTC) price has failed to sustain its sideways movement above the moving average lines and is facing rejection near the $57 high.
Litecoin Price Long-Term Prediction: BearishSince April 17, bullish momentum has been repelled twice at the $57 level.
Technical Indicators:Resistance Levels – $100, $120, $140
Support Levels – $60, $40, $20
Litecoin Indicator AnalysisThe price has fallen below the horizontal moving average lines. On April 29, the long candlestick indicates heavy selling pressure at the $57 level. Doji candlesticks, with their small bodies and indecisive nature, have dominated price movement.
On the 4-hour chart, the price bars have slipped below the upward-sloping moving average lines. The cryptocurrency asset has risen above its current support at $54.
Today, buyers attempted to keep the price above the moving average lines but were repelled. LTC's price has rebounded to its current support level of $54. If the current support level is surpassed, the bearish trend will continue to the low of $52.
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.
