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

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.

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.

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