- Litecoin trades or consolidates below the narrow range, after a bullish rally from the lower levels and at the same time just below the primary supply zone.
- The crypto asset is placed just above all major moving averages of 20, 50, 100 and 200 day lines with average volume action.
- The LTC / BTC pair is trading positive at 0.003742 BTC with an intraday gain of +1.85%, and the ratio of LTC / ETH is CMP at 0.04872 ETH with a 24 hour change of +0, 71%.
One of the most popular digital assets, Litecoin, has underperformed in the last few weeks. The crypto asset above the monthly chart is struggling to suppress its primary supply zone of $ 190-211. The coin is currently trading under the sideways channel pattern below the narrow range of $ 160-190. LTC needs strong momentum to break through its supply zone and break out of the sideways channel pattern with supportive volume actions.
The volume above the chart will be re-encoded near the average line and will need to grow to support the breakout. Once Litecoin holds up above the supply zone with improved volume activity, we can see good upside potential in the upcoming trading sessions. Support on the lower side is at $ 158 and $ 144, while resistance on the higher side is at $ 192 and $ 212.
Litecoin price shows consolidation in the current scenario
The weekly time frame, Litecoin Price shows consolidation in the current scenario after a good rebound from lower levels. The price remains below the range and the technical parameters also point to a mixed trend. Currently, the Litecoin price is trading at $ 184 with an intraday gain of + 2.57% and the volume to market cap ratio is 0.1581
Relative Strength Index (BULLISH): Litecoin The crypto RSI is currently showing a bullish or positive trend on the weekly chart. In contrast, after testing the lower range and the CMP, the RSI hits at 62 near the overbought zone.
Moving average convergence divergence (BULLISH): This currently points to a bullish trend on the daily chart. The buyer’s signal line (blue) overlays that of the seller (orange).
Support levels: $ 158 and $ 144
Resistance Levels: $ 192 and $ 212.