Litecoin (LTC) Holds Above $200 Support, Resumes Upside Momentum

23 November 2021 | Updated: 23 November 2021

Key Highlights
LTC price finds support above $206
Litecoin fluctuates between the moving averages

Litecoin (LTC) Current Statistics
The current price: $213.17
Market Capitalization: $17,978,799,593
Trading Volume: $1,895,430,106
Major supply zones: $200, $220, $240n the
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis November 23, 2021
Litecoin’s (LTC) price has been in a downward move. On November 18, the altcoin declined above $200 and the 50-day line moving average. LTC price corrected upward but was repelled at the 21-day moving average. LTC price is now confined between the moving averages. A break below the 50-day SMA will cause the altcoin to fall to $140 low. On the other hand, if the current support holds, Litecoin will rise to retest the 21-day line moving average. The upside momentum will resume if price breaks above the 21-day line moving average.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 46 of the Relative Strength Index period 14. The market is in the downtrend zone and capable of a downward move. The price bars are neither in the bearish trend zone nor in the bullish trend zone. The crypto’s price is between the moving averages. Litecoin is in a bearish momentum as it is below the 55% range of the daily stochastic.

Conclusion
Litecoin is in a downward move as it fell to the support above $206. The crypto’s price is consolidating above the current support. Meanwhile, on November 22 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that LTC will fall but reverse at level 1.272 Fibonacci extensions or $203.74.

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.