Litecoin Fluctuates above $96 as Bulls and Bears Decide the Next Move

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Key Highlights
LTC price slumps to $96 low
Litecoin is in a downward correction between $96 and $112

Litecoin (LTC) Current Statistics
The current price: $109.98
Market Capitalization: $9,222,381,969
Trading Volume: $891,008,344
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis January 25, 2022
On January 22, Litecoin’s (LTC) price fell to the low of $96 as bulls and bears decide the next move. The cryptocurrency has corrected upward as it reaches the high of $108 price level. However, the upward move is hindered the high of $112. Nonetheless, the altcoin is now fluctuating between $98 and $112 price levels. If the bulls break the initial resistance at $112, LTC price will rise to a $150 high., LTC/USD will be out of downward correction if the $150 resistance is breached. However, a further downward move is unlikely as the market reaches the oversold region.

Litecoin Fluctuates above $96 as Bulls and Bears Decide the Next Move
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 31 of the Relative Strength Index for period 14. The altcoin is in the oversold region of the market. Buyers will emerge in the oversold region to push prices upward. LTC price is in bullish momentum as it is above the 25% area of the daily stochastic. It indicates that the market will rise.


Conclusion
Litecoin is in a downtrend as bulls and bears decide the next move. On December 4 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that Litecoin will fall to level 1.272 Fibonacci extension or $84.11. From the price action, the market has reached a low of $104.

Litecoin Fluctuates above $96 as Bulls and Bears Decide the Next Move
LTC/USD – Daily 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.