Litecoin price is trading within a tight range after declining from Monday’s high. According to CoinMarketCap, its market cap has dropped by 3.51% to $9.75 billion. In comparison, the global crypto market cap is down by 3.35% from the previous session. It remains below the crucial level of $2 trillion at its current $1.87 trillion.
Litecoin price will likely remain below $160 after dropping below that level on Friday. This thesis is founded on the fact that fear is still the key emotion driving the crypto market.
As September comes to an end, LTC is about 12.32% lower than where it was at the beginning of the month. At the same time, it has declined by 37.38% since hitting its four-month high of 236.76 in mid-September.
At the time of writing, Litecoin price was up by 2.06% at 148.05. It has been trading sideways on Tuesday’s session after dropping from Monday’s high of 155.24.
On a three-hour chart, it is trading slightly below the 25 and 50-day exponential moving averages. It will likely trade within a tight range of between last week’s low of 141.66 and along the 25-day EMA at 150.18.
Above the horizontal channel’s upper border, the resistance level to look out for is 156.40. On the lower side, 140 will likely be the key support level in the short term.