Litecoin Continues Its Range as It Holds above $80

Key Highlights
Litecoin faces rejection at $96
LTC/USD resumes a sideways trend

Litecoin (LTC) Current Statistics
Market Capitalization: $7,363,860,314 Trading Volume: $364M
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis June 7, 2023
Litecoin (LTC) is trading below the moving average lines as it holds above $80 as it holds above $80. The cryptocurrency asset is currently on a negative trend after hitting a high of $97. Litecoin is now worth $87.18. The cryptocurrency’s price is currently below the moving average lines, pointing to further depreciation. The fall is predicted to get close to the previous low of $80. The cryptocurrency’s range-bound trend will continue on the downside if it holds above the existing support.

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 47 on the Relative Strength Index for Period 14. Due to its recent decline, Litecoin has moved into the negative trend zone. The drop might continue given that the price bars are below the moving average lines. The cryptocurrency asset is currently heading lower with a bearish momentum below the daily Stochastic barrier of 50.

Conclusion
Litecoin is dropping below the moving average lines as it holds above $80. The sideways trend will resume when the crypto’s price touched the present support, which is either $80 or $76. The altcoin will also resume the range-bound move where it faces rejection at $100.

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