Litecoin Is in a Sideways Move but Unable to sustain above $73 High

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Key Highlights
LTC price battles the resistance $73
LTC/USD fluctuates between $64 and $73

Litecoin (LTC) Current Statistics
The current price: $71.15
Market Capitalization: $5,981,734,948
Trading Volume: $769,175,388
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis May 17, 2022
Litecoin’s (LTC) price is in a downtrend but unable to sustain above $73 High. Litecoin fell to the low of $57 but pulled above $64 support. Since May 12, the LTC price has been consolidating above the $64 support. Buyers have failed to push LTC prices to the previous highs. The bulls could not break the resistance at $73 as the altcoin resumed a sideways move below the resistance level. On the upside, if the bulls had broken the resistance at $73, Litecoin would have rallied to $100 high. On the downside, the bulls have been defending the current support. On May 12, the candlestick has a protruding tail. This indicates that the current support has strong buying pressure.

Litecoin Is in a Sideways Move but Unable to sustain above $73 High
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 36 of the Relative Strength Index for period 14. The crypto is in the downtrend zone but the altcoin is correcting upward. It is above the 25% area of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day line SMA and the 50-day SMA are sloping downward indicating a downtrend.


Conclusion
Litecoin is trading in a tight range as it fluctuates between $63 and $73 price levels but unable to sustain above $73 High. Today, the LTC price is falling after retesting the resistance zone. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that LTC will fall to level 1.272 Fibonacci extension or $40.14.

 Litecoin Is in a Sideways Move but Unable to sustain above $73 High
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
$250 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
  • 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.