Litecoin Declines as It Targets the $64 Low

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Key Highlights
LTC price fluctuates below the $80 high
Litecoin targets the $64 low

Litecoin (LTC) Current Statistics
The current price: $76.61
Market Capitalization: $6,435,420,634
Trading Volume: $604,758,620
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis November 30, 2022
Litecoin (LTC) price is moving sideways as it aims for the $64 low. It has been fluctuating in price between $70 and $80. Litecoin has been oscillating below the $80 high for the past week. If the current support is broken, Litecoin will fall and find support above the breakout level. So, the cost of Litecoin will be somewhere between $64 and $80.00. The sideways movement continues as long as the range-bound levels remain intact. The altcoin will revive if purchasers can keep the price above the recent high of $80. The market will resume a downturn whenever the bears break below the $64 threshold.

Litecoin Declines as It Targets the $64 Low
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin’s current level on the Relative Strength Index is 61. As the market moves into an overbought zone, the cryptocurrency is still trading in the bullish trend zone. The price bars are above the moving average lines, which shows that the price of the cryptocurrency is rising.


Conclusion
As it aims for the $64 low, Litecoin will be rejected at the $80 level. The altcoin is losing value in the meantime. The price of LTC rose after a downward correction on November 25 and a retraced candle body tested the 50% Fibonacci retracement line. According to the correction, LTC will drop to level 2.0 of the Fibonacci extension, or $64.73.

Litecoin Declines as It Targets the $64 Low
LTC/USD – 4 Hour Chart

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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.