Litecoin Declines as It Challenges the Resistance at $93

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Key Highlights
Litecoin faces selling pressure at $93
Litecoin may decline to the $80 support.

Litecoin (LTC) Current Statistics
The current price: $87.09
Market Capitalization: $7,314,217,843
Trading Volume: $514,091,894
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis January 24, 2022
Litecoin (LTC) price is falling once more as it challenges the resistance at $93. The cryptocurrency’s price surpassed the $91 barrier on January 23 and climbed as high as $93. However, selling pressure developed on the LTC price. The cost of the cryptocurrency dropped to a low of $85. The cryptocurrency has been trading in a range between $80 and $93 since January 18. The altcoin may rise even higher still. If the positive momentum is maintained above the $91 high, the LTC price will increase to $101. On the other hand, Litecoin will continue selling pressure if the bears exceed $80. LTC will fall below $72 before breaking out.

Litecoin Declines as It Challenges the Resistance at $93
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is currently above the Relative Strength Index level of 66 and in the uptrend zone. The positive trend zone of the altcoin allows for additional higher movement. Additionally, it is above the daily Stochastic’s level 50 and within the bullish trend zone. Momentum in favor of the bulls has been shaky.


Conclusion
Litecoin is currently being rejected as it challenges the resistance at $93. The altcoin has moved back above the moving average lines. If the price drops below the moving average lines, the selling pressure can return.

Litecoin Declines as It Challenges the Resistance at $93
LTC/USD – 4 Hour Chart

You can purchase crypto coins here: Buy LBLOCK


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.