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- LTC price breaks down into a descending triangle as price failed to break above resistance, holding price from trending higher.\u00a0<\/span><\/strong><\/li>\n
- LTC trades below 8 and 20-day Exponential Moving Average as the price struggles to regain bullish signs as the price continues ranging in a descending triangle.\u00a0<\/span><\/strong><\/li>\n
- LTC prices continue to range as prices aim for a breakout in either direction.\u00a0<\/span><\/strong><\/li>\n<\/ul>\n
The price of Litecoin (LTC) continues to struggle as price ranges in an attempt to rekindle its bullish movement against tether (USDT). Litecoin (LTC) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains; LTC showed some relief bounces but was quickly rejected into a range price movement. (Data from Binance)\u00a0\u00a0<\/span><\/p>\n
Litecoin (LTC) Price Analysis On The Weekly Chart<\/span><\/h2>\n
Despite having a tough time in recent months with the price falling to a low of $40 due to the market condition as the crypto market has remained in a bear market for over six months now, leading to many crypto assets retesting their weekly low while others are just hanging on key support.<\/span><\/p>\n
After the price of LTC rallied to a high of $300, the price declined as it dropped to a weekly low of $40, where the price held strong after forming support, and this region looked like a demand zone for prices.\u00a0<\/span><\/p>\n
The price of LTC bounced off from this region of $40 as the price rallied to a weekly high of $65 as the price faced resistance to breaking higher as the price retraced to $100.<\/span><\/p>\n
LTC\u2019s price has since continued in its range movement as price prepares to break out of this range as it aims to retest the resistance at $65.\u00a0<\/span><\/p>\n
Weekly resistance for the price of LTC \u2013 $65.<\/span><\/p>\n
Weekly support for the price of LTC \u2013 $40.<\/span><\/p>\n
Price Analysis Of LTC On The Daily (1D) Chart<\/span><\/h2>\n
![\"\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/LTCUSDT_2022-10-12_16-38-40-860x569.png\")
Daily LTC Price Chart | Source: LTCUSDT On Tradingview.com<\/a><\/figcaption><\/figure>\n On the daily timeframe, the price of LTC continues to trade below the 8, and 20-day Exponential Moving Average (EMA), which is not good for a short-term price trend to the upside. The prices of $53.5 and $52 correspond to the prices at 8 and 20 EMA acting as resistance for LTC.<\/span><\/p>\n
The price of LTC continues in a range-bound movement<\/a> as the price has formed a descending triangle. The price of LTC needs to break out to the upside to resume its bullish movement; a break to the downside would send the price of LTC to a daily low of $47 and likely $40.\u00a0<\/span><\/p>\n
- LTC trades below 8 and 20-day Exponential Moving Average as the price struggles to regain bullish signs as the price continues ranging in a descending triangle.\u00a0<\/span><\/strong><\/li>\n