Key Highlights
Litecoin is trapped between the moving average lines
LTC/USD targets the high of $122
Litecoin (LTC) Current Statistics
The current price: $88.24
Market Capitalization: $7,411,118,648
Trading Volume: $1,126,361,575
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80
Litecoin (LTC) Price Analysis March 23, 2023
The price of Litecoin (LTC) is increasing as it challenges the $90 high. The crypto’s price crosses the 21-day SMA but not the 50-day SMA. If the price rises above either the $90 resistance level or the 50-day SMA, the uptrend will continue. The price indicator has indicated that the cryptocurrency will continue to move upward. A retraced candle body on the uptrend of March 14 tested the 38.2% Fibonacci retracement level. The retracement shows that LTC will increase to the Fibonacci extension level of 2.618, or $122.13. Litecoin is rising to retest or pass the 50-day moving average line in the interim.
Litecoin (LTC) Technical Indicators Reading
The Relative Strength Index for Period 14 has the cryptocurrency asset at level 53. LTC is in a bullish trend zone and may continue to rise. The fact that Litecoin is pinned between the moving average line suggests that the coin may move in a range. As the crypto asset approaches the overbought area of the market, it runs the risk of declining. It is above the daily Stochastic level of 80.
Conclusion
Litecoin’s price is currently positioned halfway between the moving average lines as it challenges the $90 high. The upward trend slows as the market gets closer to the overbought region. The crypto asset will be forced to move in a range of buyers are unable to get past the resistance at $90 or the 50-day line SMA.
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