Litecoin Fluctuates above $52 as It Faces Rejection at $53

Updated:

Key Highlights
Litecoin consolidates above the $52 support
LTC/USD turns down from 21-day line SMA


Litecoin (LTC) Current Statistics
The current price: $52.38
Market Capitalization: $4,398,135,048
Trading Volume: $532,134,958
Major supply zones: $200, $220, $240
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis September 20, 2022
Litecoin’s (LTC) price is in a downward move as it faces rejection at $53. Since September 18, the LTC price has been fluctuating above the $52 support. On September 20, the altcoin rebounded but was repelled by the 21-day line SMA. Today, the upward move is facing rejection at the $53 resistance. Litecoin will further decline if price breaks below the current support at the $52 price level. However, if the current support holds and Litecoin rebounds, the coin will rally above the moving average lines. The bullish momentum will extend to the $64 overhead resistance.

Litecoin Fluctuates above $52 as It Faces Rejection at $53
LTC/USD – Daily Chart Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 40 of the Relative Strength for period 14. The crypto is in the bearish trend zone and may further decline. LTC’s price bars are below the moving average lines indicating a possible downward move. The crypto is above 50% area of the daily stochastic. Litecoin is in a bullish momentum. The bullish momentum has subsided.


Conclusion
On the 4-hour hour chart, Litecoin is in a downward move as it faces rejection at $53. The upward correction is facing rejection at the 21-day line SMA. This indicates further decline. Meanwhile, on September 16 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. LTC will fall to level 2.0 Fibonacci extension or $48.75.

Litecoin Fluctuates above $52 as It Faces Rejection at $53
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
$100 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
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 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.