Litecoin ( LTC) Trades Between $168 and $192, May Resume Upward

Azeez Mustapha
14 September 2021 | Updated: 14 September 2021

Key Highlights
LTC/USD is in a vertical rally, faces rejection at level $240
Litecoin fluctuates between levels $168 and 192

Litcoin ( LTC) Current Statistics
The current price: $184.72
Market Capitalization: $15,533,495,257
Trading Volume: $4,756,611,126
Major supply zones: $400, $420, $440
Major demand zones: $200, $180, $160

Litecoin (LTC) Price Analysis September 14, 2021
Litecoin’s (LTC) price is consolidating above the $170 support after the September 7 bearish impulse. The price action is characterized by small body candlesticks called Doji and Spinning tops. These candlesticks indicate that buyers and sellers are undecided by the direction of Litecoin. Today, Litecoin is declining after facing rejection at $182. The altcoin is yet to trend but it is consolidating above the current support.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 49 of the Relative Strength Index period 14. It indicates that LTC/USD has reached equilibrium suggesting a balance between supply and demand. LTC price has fallen below the 20% range of the daily stochastic. Litecoin is in the oversold region of the market. The selling pressure is presumed to reach bearish exhaustion. Litecoin will resume upward as buyers emerge in the oversold region.

Conclusion
Litecoin is range-bound between levels $168 and $192. The altcoin is yet to trend as it fluctuates between the range-bound levels. The crypto is confined between the 21-day SMA and 50-day SMA. The uptrend will resume if the LTC price breaks above the 21-day SMA and the bullish momentum is sustained. Also, the selling pressure will resume if price breaks below the 50-day SMA.

LTC/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.