The LTC token had displayed a strong bullish price action during March giving its investors a sign of relief. However, the bulls lost momentum in April, resulting in the price losing all its gains from the pump. This highlights uncertainty in the future price action of this altcoin.
Moreover, the Litecoin (LTC) price continues to display a weak price action by trading in a closed range between $77.25 and $85.55 since mid-April, indicating a rising disinterest of investors in this altcoin. Will the LTC price ever go up?
LTC Price Successfully Retests Its Important Support Level:
After recording a correction of 5.22% within the past seven days and 1.66% over the past month, the LTC coin price has experienced a jump of approximately 2% despite displaying a drop of 10.8% in its trading volume within the past 24 hours.
At the time of writing, the price of Litecoin crypto was $79.76. With a circulating supply of 74,640,562 LTC and a total supply of 84,000,000 LTC tokens, the altcoins have secured the 19th position in the global crypto-list with a market capitalization of $5.941 Billion.
The Cross EMA 50/200-day displays a strong potential of a Death Cross in the 1D time frame, suggesting a weak price action for the LTC crypto in the market.
On the other hand, the Relative Strength Index (RSI) records a high possibility of a bullish convergence, suggesting a mixed sentiment for the altcoin this week.
Will LTC Price Rise Again?
If the bulls continue to gain momentum, the Litcoin price will test its resistance level of $85.55 this month. Maintaining the price at that level will set the stage for the LTC token to test its upper resistance level of $94 in the coming time.
Negatively, if the bears overpowered the bulls, the altcoin would lose momentum and retest its important support level of $77.25. Moreover, if the Litcoin token fails to regain its lost momentum, it will plunge and prepare to test its crucial support level of $67.40 during the upcoming weeks.
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