Litecoin tests $102 Support amid Stochastic oversold signals. A Dip below the immediate support at $102.0 can trigger the downtrend, targeting $95, followed by $88.0.
Litecoin Technical Analysis – 27-December-2024
LTC/USD is in a bear market, below the 75-period simple moving average. As of this writing, the cryptocurrency trades at approximately $103.0, pulling away from the $102.0 key support.
The Awesome Oscillator is below zero with red bars, hinting that the downtrend should prevail. Additionally, the RSI 14 is below the median line, depicting 44. However, the Stochastic Oscillator records show 15, meaning LTC is oversold, and the prices could bounce or consolidate from this point.
Overall, the technical indicators suggest that while the primary trend is bearish, the LTC/USD could consolidate before the downtrend resumes.
A Break Below $102.0 Can Trigger the Downtrend
The immediate support is at $102. From a technical perspective, the downtrend could extend to lower support levels if bears (sellers) push LTC/USD below $102.
If this scenario unfolds, the next bearish target could be $95.0, followed by $88.0.
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The Bullish Scenario
The immediate resistance is at $104.0. From a technical perspective, the current pullback from $102.0 could extend to a higher resistance level if the LTC/USD stabilizes above $104.0. In this scenario, the next bullish target could be $108, followed by $114.0.
Litecoin Support and Resistance Levels – 27-December-2024
Traders and investors should closely monitor the LTC/USD key levels below to make informed decisions and adjust their strategies accordingly as market conditions shift.
| Litecoin Support and Resistance Levels – 27-December-2024 | |||
|---|---|---|---|
| Support | $102.0 | $95.0 | $88.0 |
| Resistance | $104.0 | $108.0 | $114.0 |