Litecoin (LTC) Breaks Current Support, May Decline to Level $0.70 Low

21 September 2021 | Updated: 21 September 2021

Key Highlights
Litecoin in a downward move, breaks level $1.00
Litecoin breaks sideways move, drops to level $0.92

Litcoin ( LTC) Current Statistics
The current price: $159.06
Market Capitalization: $13,288,565,694
Trading Volume: $2,637,102,581
Major supply zones: $400, $420, $440
Major demand zones: $200, $180, $160

Litecoin (LTC) Price Analysis September 21, 2021
Litecoin’s (LTC) price broke below the moving as price fell to the low of $153. The support is holding as buyers attempt to resume upward. The current support is retesting the previous low of September 7. The downtrend will resume if the current support is breached. Meanwhile, on September 7 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LTC price will fall to the low of level 1.618 Fibonacci extension or level $107.57.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 39 of the Relative Strength Index period 14. It indicates that the LTC price is in the downtrend zone and below the centerline 50. It is also approaching the oversold region. LTC price is above the 25% range of the daily stochastic. It is in a bullish momentum. The stochastic band is sloping horizontally indicating the sideways trend.


Conclusion
Litecoin fell to the support above the previous low at $155. The crypto is now is consolidating above the current support. The further downward move will depend on price breaking the current support. The Fibonacci tool has indicated a further downward movement of the coin. Meanwhile, on September 7 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LTC price will fall to the low of level 1.618 Fibonacci extension or level $109.03.

LTC/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.