Litecoin Fluctuates below $130 High, Unable to Retest the Overhead Resistance

Updated:

Key Highlights
LTC price faces resistance at $144
Litecoin turns from the overhead resistance

Litecoin (LTC) Current Statistics
The current price: $128.31
Market Capitalization: $10,784,014,554
Trading Volume: $752,356,007
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis February 15, 2022
Litecoin’s (LTC) price is in an uptrend but unable to retest the overhead resistance. It is trading above the 21-day line moving average but below the 50-day line moving average. At times, LTC prices will fluctuate below and above the 50-day line moving average. This implies that LTC price will be in a range-bound move between the moving averages. The altcoin will trend when the moving average lines are breached and the bullish momentum is sustained. Litecoin will rally to $180 if the 50-day line moving average is breached. However, the price fluctuation will continue if the bullish scenario is invalidated.

Litecoin Fluctuates below $130 High, Unable to Retest the Overhead Resistance
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC/USD price bars are between the moving averages indicating that LTC price will fluctuate. The altcoin is above 50% area of the daily stochastic. It indicates that Litecoin has resumed bullish momentum. Litecoin is at level 52 of the Relative Strength Index for period 14. The cryptocurrency is trading in the uptrend zone and capable of a further upward move

Conclusion
Litecoin is an upward move but unable to retest the overhead resistance.Meanwhile, on February 10 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Litecoin will rise to level 2.0 Fibonacci extension or $184.53 high. From the price action, the Fibonacci tool will hold if price breaks above $144.

Litecoin Fluctuates below $130 High, Unable to Retest the Overhead Resistance
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.