Litecoin (LTC) Consolidates above $127 Support, Resumes an Uptrend

Key Highlights
LTC price rallied to $140 high
The altcoin is in a downward correction

Litcoin ( LTC) Current Statistics
The current price: $133.31
Market Capitalization: $12,430,898,839
Trading Volume: $1,809,526,275
Major supply zones: $400, $420, $440
Major demand zones: $200, $180, $160

Litecoin (LTC) Price Analysis July 27, 2021
Today, Litecoin’s (LTC) price is rising on the upside to revisit the previous low of $140. In the first uptrend of July 26, the LTC price rallied to $140. At the recent high sellers were attracted as the crypto plunged to $127 support. A fresh uptrend is initiated by buyers as the altcoin revisits the previous highs. Litecoin will rise to the next resistance at $180 if the $140 price level is breached. On the other hand, if Litecoin faces rejection at the $140 high, the market is likely to decline to the low of $107. In the meantime, LTC/USD is rising to revisit the previous high.

Litecoin (LTC) Technical Indicators Reading
LTC/USD is at level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The price bars are below the 21-day and the 50-day SMAs which suggest that LTC price is capable of falling on the downsides. The moving averages are sloping downward indicating the downtrend.

Conclusion
Litecoin has resumed its upward move. LTC price is rising after consolidating above the $127 support. Meanwhile, on July 26 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. This retracement indicates that the market will rise to level 2.618 Fibonacci extensions or level $165.97.


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