Key Highlights
Litecoin is rising consistently
The cryptocurrency asset targets the high of $110
Litecoin (LTC) Current Statistics
The current price: $99.59
Market Capitalization: $8,359,529,220
Trading Volume: $640,970,092
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80
Litecoin (LTC) Price Analysis January 31, 2022
The price of Litecoin (LTC) is steadily rising and is now in an uptrend as it aims for a high of $110. The LTC price has risen as high as $102 from the breakout level of $80. The altcoin was able to break through resistance at $91 and $92, sending the price to a high of $102, thanks to buyers. Because it is now trading in the bullish trend zone, the altcoin may continue to increase. The high of $110 serves as the next resistance barrier for the LTC price on the upward. As long as the bullish momentum continues, the cryptocurrency asset will increase. If Litecoin reaches the overbought area of the market, it will fall. Or, if the bearish momentum continues and the price breaks below the 21-day line SMA.
Litecoin (LTC) Technical Indicators Reading
The Relative Strength Index level 63 for period 14 shows that Litecoin is in the area of a favorable trend. Being in a favorable trend zone may cause Litecoin to increase. As the price of the altcoin climbs, the price bars have constantly held above the moving average lines. Litecoin has been trading in the overbought area above level 80 of the daily Stochastic since January 1.
Conclusion
Litecoin has risen as it aims for a high of $110. The digital asset has transitioned into a steady ascent. As it surged to a high of $102, the cryptocurrency price broke the upward trend that began on January 29. There may be further benefits.
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