[Litecoin continues sideways trend and stabilizes above $75]
After previous losses, Litecoin (LTC) encountered resistance at $110 and failed to sustain its gains despite three attempts to break through. It briefly rose back above the 21-day simple moving average on April 3, but quickly fell below it, hitting as low as $70. Currently, LTC/USD is trading at $81.15.
Market support lies at $79, a level around which Litecoin is consolidating. If buyers can sustainably push the price above the moving averages or above the $100 resistance, the uptrend may be maintained.
After the decline on April 13, 2024, the price of Litecoin is currently below the moving average, showing a downward trend, and may further decline. However, the long tail candle on April 13 shows active buying at the $70 support level.
Litecoin is currently trading sideways. On the 4-hour chart, it is trading between support at $75 and resistance at $83. If the market price breaks out of the current trading range, it will indicate new market trends.
