Litecoin Is in a Sideways Trend, Faces Rejection at $116 High

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Key Highlights
LTC price recovers from a downtrend
Litecoin fluctuates between $104 and $116 price levels

Litecoin (LTC) Current Statistics
The current price: $114.48
Market Capitalization: $9,598,578,428
Trading Volume: $824,932,792
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis February 1, 2022
Litecoin’s (LTC) price is in a downward correction as it faces rejection at $116 high. Yesterday, buyers made attempt to push the altcoin to the previous highs but were repelled at the $116 price level. This indicates that Litecoin will be fluctuating between $104 and $116 price levels. From the price action, the market is dominated by small body indecisive candlesticks called Doji and Spinning tops. These candlesticks are responsible for the current range-bound move. On the upside, if buyers break above $116 resistance, the market will rise to $140 high.

Litecoin Is in a Sideways Trend, Faces Rejection at $116 High
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The cryptocurrency is at level 35 of the Relative Strength Index for period 14. It indicates that Litecoin is still in the downtrend zone and below the centerline 50. Also, the cryptocurrency is trading above the 80% area of the daily stochastic. It indicates that the market is likely to decline as prices reach the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

Conclusion
Litecoin is still in a range-bound move between $100 and $116 price levels but faces rejection at $116 high. Today, the LTC price is falling after retesting the resistance level. This will be the second time, it is facing rejection at the recent high. The uptrend will resume once the resistance level is breached.

Litecoin Is in a Sideways Trend, Faces Rejection at $116 High
LTC/USD – 4 Hour Chart


You can purchase crypto coins here: Buy Coins

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • 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.

Leave a Reply

Your email address will not be published. Required fields are marked *