Litecoin price analysis: LTC/USD trading in lock-step, price consolidating above $170

John Isige FXStreet

Litecoin price is trading below the 100-SMA, the general trend is generally slopping.

The price breaks past the 23.6% Fib retracement level thrice, however, upside gains capped under $180.

Litecoin price is trading in lock-step on Tuesday after the price slumped during the trading session on Monday. The crypto dropped from highs of $192 to lows of $175 to indicate that the market had not stabilized after the regulation news that flooded the cryptocurrency market last week.

LTC/USD is currently flirting with $176 as the price consolidates above $170 level. It is trading below the 100-simple moving average while the trend is generally slopping. During the trading today, Litecoin price found support at $175 level. The price has tested this support level severally as the bulls and the bears fight to get control of the market.

Litecoin price is trading below the 23.6% Fibonacci retracement level of the previous high at $192 and a low of $175. The price broke past the retracement level thrice but the upside gains were capped under $180. The short-term resistance level is at $180 and Litecoin will have to break past this level to realize substantial upside gains.

LTC/USD intraday price chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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