- The Litecoin price is near the support level and buyers are keen to surpass the $80 level.
- The buyers seem strong enough to defend the $70 level.
The Litecoin (LTC) crypto price has been in a consolidation phase for the last few months. The LTC crypto price has tried to surpass the $77 level but the sellers are strong enough to drag down the price.
The Litecoin cryptocurrency indicates increased bullish activity in the market. Moreover, the price action is still making higher highs and higher lows, but the last swing high failed to cross the last swing high on the charts, indicating bearish grip for the short-term.
In the long-term, the chart structure shows that buyers are driving the trend and the cryptocurrency is gradually approaching the $80 mark, which it is likely to reach soon in the upcoming sessions. Additionally, the sellers have found themselves in a defensive position after breaking multiple resistance levels above $75 with significant vertical gains over the last few trading sessions. Investors are showing a strong intent to continue this upward trend.
Litecoin Price Overview
Litecoin is trading at $69.35 and has fallen by 0.06% in the intraday session. Its market capitalization is $5.15 billion and the 24 hour trading volume is $282.12 million, which has dropped by 13%.
The circulating supply for Litecoin is 74,105,769 LTC and the fully diluted market cap is $5,825,865,912. The maximum and the total supply is 84,000,000 LTC.
Litecoin Price Technical Analysis Over Daily Timeframe
The Litecoin price has performed negatively since July 2023 and the bears are in control. The LTC price dropped to the support level of $69 and halted. If the buyers lift the price over the $72 level, then the 200-day moving average can be achieved easily.
On the other hand, if LTC fails to defend this support level of $69, the sellers may dominate further and the price can be expected to melt to the $60 mark in the next few days.
The LTC price has continuously shown price rejection from the 200-day EMA and showed a negative impact on the price. The RSI is at 47, which has been ranging in the neutral zone.
Litecoin Price Prediction FAQs
What is the LTC price prediction today?
The Litecoin crypto price is predicted to gain 0.00% to reach $69.27 by today.
What is the Litecoin price prediction tomorrow?
The LTC price is predicted to gain 2.57% to reach $70.75 by tomorrow.
What is the LTC price prediction for this week?
According to our analysis, the LTC crypto price will gain 6.83% to reach $73.56 by the end of this week.
What is the current Litecoin crypto price prediction sentiment?
According to our technical analysis, the LTC price prediction sentiment is bearish.
Conclusion
The Litecoin price has been in a downtrend for a wider time frame and the price has slipped below the significant moving average which showcases a bearish trend. The LTC crypto price is unable to surpass the $80 hurdle. According to the analysts, the LTC price will remain bearish below the $80 mark and buying opportunities may be generated above this level.
Technical levels
Resistance: $76 & $96
Support: $67 & $63
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.