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Key Highlights
Litecoin has reached bearish exhaustion
LTC price will revisit the previous low at $77
Litecoin (LTC) Current Statistics
The current price: $83.07
Market Capitalization: $6,976,224,088
Trading Volume: $233,351,913
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20
Litecoin (LTC) Price Analysis August 13, 2023
Litecoin (LTC) price has decreased and may retest the prior level at $77. The cryptocurrency’s value fell to a low of $82.94. The price indicator predicted that the cost will decrease even further, hitting a low of $77.
Litecoin hit a low of $80 on August 3 before beginning to stabilize once more over the existing support. The LTC price has varied below the moving average lines in the last week, but the bulls have held onto the current support.
If buyers can keep the price above the moving average lines, the altcoin will start to trend positively again. Litecoin’s cost will rise and reach a peak of $104. On the other hand, the price of LTC will decrease if the existing support is broken.
Litecoin (LTC) Technical Indicators Reading
Litecoin is on the decline as it crosses the Relative Strength Index period 14 level 38. The currency has dropped dramatically as it approaches oversold territory. LTC price bars are below the moving average lines, causing the fall. Litecoin is in a negative trend below the daily Stochastic threshold of 40.
Conclusion
On the 4-hour chart, Litecoin is range-bound and may retest the prior level at $77. The selling pressure has abated, and the altcoin is now trading between $80 and $84 per coin. The Doji candlestick has been present, which has led to the altcoin’s limited trade. The price of the cryptocurrency may fall as the price bars fall below the moving average lines.
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