Litecoin Is in a Sharp Decline as It Risks Further Decline below $94

Key Highlights
Litecoin declines above the moving average lines
The crypto’s price reaches the oversold region

Litecoin (LTC) Current Statistics
Market Capitalization: $7,960,027,143
Trading Volume: $727,200,584
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis April 19, 2023
Litecoin (LTC) price trades within the bullish trend zone as it risks further decline below $94 . On April 18, the altcoin tested the $105 resistance level before experiencing a sharp decline. The LTC price is currently trading at $95 at the time of writing. The altcoin will further decline to a low of $80 if the price falls beneath the moving average lines. On the other hand, the uptrend might continue if the price of the cryptocurrency stays above the moving average lines. The digital currency will once more hit its previous peak of $105.

Litecoin (LTC) Technical Indicators Reading
Litecoin is currently at level 53 of the Relative Strength Index for Period 14. The coin may climb as it is in the bullish trend zone. The price bars are higher than the moving average lines despite the recent fall. If the coin stays above the moving average lines, it will increase in value. The price of Litecoin has hit the oversold region of the market. It is below Level 20 of the daily Stochastic.

Conclusion
LTC/USD is currently trading above the moving average lines as it risks further decline below $94. Litecoin will begin a fresh uptrend if it can keep its position above the moving average lines. The price of LTC is looping above the moving average lines as it nears the oversold region.

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