Litecoin Slips Below Its $60 Low

Litecoin (LTC) has fallen and breached the $60 price threshold.

Litecoin price long-term prediction: bearish

Yesterday, the Litecoin price dropped to a low of $45.05 before recovering. Buyers have defended the $60 support for more than two years, with bulls buying on dips.

Bears pushed the price down to $45 before it recovered above $50. The LTC price is now range-bound, trading above the $45 support and below the moving averages. If the altcoin loses its $45 support, it is likely to fall further. The price of LTC is $53 at the time of writing.

Technical Indicators:

• 
  Resistance Levels – $100, $120, $140

• 
  Support Levels – $60, $40, $20

Litecoin price indicator analysis

The 21-day and 50-day SMAs have dropped significantly to the bottom of the chart. Doji candlesticks indicate the cryptocurrency price is slowing its movement. On the 4-hour chart, the price bars move below and above the 21-day and 50-day SMA barriers.

What is the next move for Litecoin?

Litecoin has dropped to the bottom of its chart. On the 4-hour chart, the cryptocurrency price reached a low of $45 but is now correcting upwards. On the upside, Litecoin will recover from its recent dip if investors push the price above the $60 mark. The altcoin will rise but will encounter resistance at the moving average lines.

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.