Key Highlights
Litecoin declines and finds support above $75
LTC price regains bullish trend
Litecoin (LTC) Current Statistics
Market Capitalization: $6,600,514,309
Trading Volume: $635,259,264
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80
Litecoin (LTC) Price Analysis May 9, 2023
Litecoin (LTC) has entered the bearish trend zone as it attempts to hold above $75. The crypto asset fell to a low of $75 before increasing once more. The current support was still in place after the pullback. The price indicator suggests that Litecoin could drop as low as $73. LTC is now as much as $78 more expensive than yesterday. If the upward momentum continues, buyers will attempt to retest the $92 barrier. However, if there is more selling pressure, Litecoin will lose ground and pass through the $75 support level. After that, the market will drop below its previous low of $68. The cryptocurrency’s price is currently looping above the $75 level of support.
Litecoin (LTC) Technical Indicators Reading
The altcoin has climbed to level 33 of the Relative Strength Index for Period 14. The oversold section of the market is approaching its breaking point. In the bearish trend zone, the altcoin is vulnerable to additional depreciation. As long as the price bars are below the moving average lines, the value of Litecoin will decrease. The oversold zone has been reached by Litecoin. Currently, it is higher than the daily Stochastic level of 25.
Conclusion
Litecoin’s bear market has ended as it attempts to hold above $75. The altcoin would tumble to its previous low at $68 if the bears manage to breach the $75 support. On the other hand, the bullish trend will keep moving upward.
You can purchase crypto coins here: Buy LBLOCK
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.