Towards the end of November, Litecoin bulls charged aggressively against the $80 price level, but the hyper-bullish price was rejected at the $80 resistance level. And bears attempted to take the market. Despite the bears’ aggression to take the market from November 24 to December 4, the price channel still maintains its upward direction. The forces of demand are stronger. And now, the price is above the $80 price level.
Litecoin Market Price Statistic:
- LTC/USD price now: $81.7
- LTC/USD market cap: 5,761,838,675
- LTC/USD circulating supply:71,765,206.23
- LTC/USD total supply: 84,000,000
- LTC/USD coin market ranking: #12
- Resistance: $90, $100, $110
- Support: $75, $70, $65
Litecoin Market Price Analysis: The Indicators’ Point of View
The rejection of the price at the $80 level was followed by massive selling pressure. But the bear market could not make progress beyond the $74 support level. The bulls were much stronger than the bears. The Bollinger band illustrates an upward-moving market, but with a broader bandwidth. This means that the market is volatile. The bears are also very formidable, but the buyers have the upper hand. The market is moving in a bullish way.
LTC/USD 4-Hour Chart Outlook
As buyers continue to sustain the market, the price pullback we see through the RSI is a result of the market entering the overbought region. The buying pressure forces the price into the overbought territory and it is expected that the price will pull back to correct itself. The bull market is still showing vigour and the next target for the market is $90.
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