Litecoin (LTC) Fluctuates Between $144 and $155 as Buyers Recoup To Resume Uptrend

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Key Highlights
LTC price resumes downward correction
Litecoin fluctuates between $144 and $155

Litecoin (LTC) Current Statistics
The current price: $148.18
Market Capitalization: $12,451,441,024
Trading Volume: $12,451,441,024
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis January 5, 2022
Litecoin’s (LTC) price is still in a downward correction as buyers recoup to resume uptrend. Since December 28, the cryptocurrency fell to the range-bound zone at the bottom of the chart. On December 23 uptrend, the altcoin corrected upward but was repelled at the $165 resistance level. Consequently, LTC/USD fell below the moving averages. Today, Litecoin is consolidating above $144 support but below $155 resistance. The uptrend will resume if the bulls break above the moving averages or $165high.

Litecoin (LTC) Fluctuates Between $144 and $155 as Buyers Recoup To Resume Uptrend
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC price is below the moving averages which indicate a possible fall of the cryptocurrency. The crypto has fallen to level 41 of the Relative Strength Index for period 14. The altcoin is in the downtrend zone and below the centerline 50. The market is above the 40% range of the daily stochastic. The bullish momentum is unstable as the price fluctuates.

Conclusion
Litecoin is in a range-bound move at the bottom of the chart as buyers recoup to resume uptrend. The price action is characterized by small body candlesticks called Doji and Spinning tops. The candlesticks are responsible for the current range-bound move. The candlesticks indicate that buyers and sellers are undecided about the direction of the market.

Litecoin (LTC) Fluctuates Between $144 and $155 as Buyers Recoup To Resume Uptrend
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.