Litecoin (LTC) Is in a Sharp Decline, May Find Support Above $180

Key Highlights
Litecoin is in a sharp decline, may reach the low of $180
Litecoin reaches bearish exhaustion

Litecoin (LTC) Current Statistics
The current price: $1,588.73
Market Capitalization: $181,735,755,212
Trading Volume: $44,733,702,218
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis February 23, 2021
Since February 20, Litecoin has been falling after its rejection from the $240 high. The bulls were attempting to break the previous price level before encountering a bearish consequence. LTC has fallen and it is approaching the low of $180. The bottom line is that if price falls and finds support above $180, the market may resume upward. However, if the price breaks the $180 support, LTC will further decline to $150 and $170.

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The crypto’s price is attempting to break the support line of the ascending channel. The downtrend will resume if the support line is breached.

Conclusion
Litecoin is in a downward move. The Fibonacci tool has indicated a downward movement of the coin. Meanwhile, on February 22 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the crypto will decline to level 1.618 Fibonacci extensions or the low of $137.22.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results