Litecoin (LTCUSD) Resumes Decline - Analysis - 18-12-2024

The price of Litecoin LITECOINLTC (LTCUSD) resumed its decline during its recent trading at the moment levels, amid the price's attempts to gain positive momentum that may help it recover and rise again, in light of the dominance of the main upward trend in the short term, with the continuation of positive pressure due to its trading above its simple moving average for the previous 50-day period, as we notice the beginning of positive signals in the relative strength indicators, after reaching areas of severe saturation with selling operations.

Therefore, we expect the price of the currency to rise again during its upcoming trading, as long as the support level of $101.31 remains stable, targeting the important resistance level of $147.22.

The expected direction for the upcoming trading: It is likely to rise $LTC