This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Litecoin (LTC) has experienced a correction in its price after being stuck between moving average lines. The cryptocurrency broke above the moving average lines on December 1, reaching a high of $74 before retracing. However, it encountered strong resistance at higher price levels. Currently, Litecoin is trading at $72. If the bears manage to break through the $70 support, the cryptocurrency could fall back into the previous fluctuation zone between $60 and $70. On the other hand, if Litecoin remains above the moving average lines, it will retest the previous highs. The cryptocurrency has been trading modestly at the bottom of the chart since the end of the downtrend. The altcoin is currently trending sideways, with the moving average lines remaining horizontal. The price bars are moving both below and above the moving average lines. The resistance levels for Litecoin are $100, $120, and $140, while the support levels are $60, $40, and $20. If Litecoin fails to break the $76 resistance level, it will continue to move sideways. However, it has found support above the moving average lines at $72. As long as it remains above these lines, the price of LTC is expected to rise and retest previous highs. It is worth noting that the presence of doji candlesticks has been limiting the altcoin’s price movement. This analysis and forecast are the personal opinions of the author and should not be considered as a recommendation to buy or sell cryptocurrency. Readers are advised to conduct their own research before making any investment decisions.