{"id":108165,"date":"2021-01-12T13:20:27","date_gmt":"2021-01-12T13:20:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108165"},"modified":"2021-01-12T13:20:27","modified_gmt":"2021-01-12T13:20:27","slug":"litecoin-recovery-in-jeopardy-as-bears-breach-more-support-levels","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-recovery-in-jeopardy-as-bears-breach-more-support-levels\/","title":{"rendered":"Litecoin Recovery in Jeopardy as Bears Breach More Support Levels"},"content":{"rendered":"
Litecoin rebounds above $132 as the altcoin resumes upward move. The price is fluctuating between $132 and $147 as buyers fail to take firm control of price upward move. <\/strong><\/p>\n Today, the coin is trading marginally as the price reaches a high of $143. Yesterday, Litecoin made a sharp decline as bulls struggled to break above the $180 resistance level. <\/p>\n Surprisingly, the altcoin dropped to $112.75 low and pulled back immediately. The coin is trading above the previous price range of between $120 and $140. However, a further decline will suggest a deeper correction of Litecoin. Nonetheless, if buyers can push LTC above the $170 resistance, a rally above $180 is likely. The coin may be compelled to a range-bound move above $140 if the current uptrend fails.<\/p>\n The crypto upward move is intact as price breaks below the SMAs and resumes upward. However, a break below the SMAs will mean a downward movement of the coin. The coin is at level 51 of the Relative Strength index period 14. It indicates that there is a balance between supply and demand.<\/p>\n <\/p>\n Resistance Levels: $160, $180, $200 <\/b><\/p>\n <\/b><\/p>\n Support Levels: $100, $80, $60<\/b><\/p>\n Litecoin is in a downtrend as bulls struggle to resume upward movement. Presently, the coin has fallen to a $143 low. The upward move will resume if the current support holds. A break below the current support will mean a downward move to the Fibonacci extension level. On the January 11 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This gives the impression that the coin will fall to level 1.618 Fibonacci extension level or a high of $67.40.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.<\/i><\/p>\nLitecoin indicator analysis <\/h2>\n
What is the next move for Litecoin? <\/h2>\n