Litecoin Is Stuck in a Range, Finds Support above $140 Low
Login

Litecoin Is Stuck in a Range, Finds Support above $140 Low

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
LTC price faces rejection at $152
Litecoin retraces and finds support above $140

Litecoin (LTC) Current Statistics
The current price: $140.14
Market Capitalization: $11,771,917,958
Trading Volume: $1,443,976,148
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis January 18, 2022
Litecoin’s (LTC) price is in a range-bound move but finds support above $140 Low. The crypto’s price breaks above the 21-day line moving average but below the 50-day line moving average. Litecoin is stuck in between the moving averages. The cryptocurrency will resume trending when the moving average lines are breached. However, if price breaks above the 50-day line moving average, Litecoin will commence an upward move. On the other hand, if price breaks below the 21-day line moving average, the downtrend will resume. Meanwhile, on January 17 uptrend, the altcoin rallied to $152 but was resisted. LTC price declined to the support above the 21-day line moving average or the $140 low.

Litecoin Is Stuck in a Range, Finds Support above 0 Low
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The price bars are between the moving averages indicating a possible range bound move. The crypto is at level 47 of the Relative Strength Index for period 14. The cryptocurrency is in the downtrend zone and below the centerline 50. . The altcoin is below the 50% area of the daily stochastic. It indicates that the market is in a bearish momentum.


Conclusion
LTC/USD is likely to resume an upward move as price finds support above $140 Low. The altcoin has found support above the $140 low. The uptrend is likely to resume if the current support holds. On January 13, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that Litecoin will rise to level 1.618 Fibonacci extension or $154.70. From the price action, the LTC price reached the high of $152 and reversed.

Litecoin Is Stuck in a Range, Finds Support above 0 Low
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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News