Litecoin Is Overbought as It Continues to Face Rejection at $102

Key Highlights
Litecoin continues to retest the resistance at $102
The altcoin has reached the overbought region of the market.

Litecoin (LTC) Current Statistics
The current price: $102.05
Market Capitalization: $8,572,674,116
Trading Volume: $797,119,639
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis February 15, 2023
Litecoin (LTC) price has resumed its upward trend as it continues to face rejection at $102. The resistance has been tried three more times since February 1 but the upswing has not been confirmed. The altcoin is currently declining as a result of resistance in the overbought area. The overbought area at $102 hasn’t been broken for the past week. The market will rise to a high of $108.00 if the current resistance is broken. The altcoin is now oscillating below the resistance level at $102 at this time.

Litecoin (LTC) Technical Indicators Reading
The Relative Strength Index has dropped to level 63 for period 14. The coin has entered the uptrend zone because of the current positive momentum. Litecoin is currently trading in the overbought area of the market. It is above the daily Stochastic level of 80. The overbought region is rejecting the altcoin.

Conclusion
Litecoin is still in an upward zone as it continues to face rejection at $102. Since February 1, the current upswing has been stationary after crossing the overbought zone at $102. The altcoin will drop above the previous $90, though, if the recent high is rejected.

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