Litecoin Reaches Its Historical $45 Bottom Price

Litecoin (LTC) continues to fluctuate near the bottom of its chart.

Litecoin price long-term prediction: bearish

The cryptocurrency has risen above its low of $45, reaching a high of $56. Since February 2, the price has moved above the $45 support level but remains below the moving average lines. Today, the LTC price is steadily declining, approaching its previous low of $45. If the downward trend breaks the $45 support level, the altcoin could fall to a low of $40.

However, if the $45 support holds, Litecoin will continue its range-bound movement above and below the moving average lines. At the time of writing, Litecoin is trading at $52.95.

Technical Indicators:

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

• 
  Support Levels – $60, $40, $20

Litecoin price indicators analysis

The moving average lines continue to decline as the cryptocurrency approaches the bottom of its chart. Doji candlesticks have formed as the price consolidates. On the 4-hour chart, the price is consolidating above $50 but remains below the downward-sloping moving average lines.

What is the next move for Litecoin?

The price of Litecoin has stabilised above the $45 support. The price has corrected upwards but has been held back by resistance at the 21-day SMA. LTC remains range-bound above the $45 support and below the moving average lines or the resistance at $55. Currently, price movement remains static above the $50 support.

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.