Litecoin (LTC) Loses $155 Support as It Resumes Selling Pressure

28 September 2021 | Updated: 28 September 2021

Key Highlights
Litecoin resumes selling pressure
Litecoin may decline to level $105

Litcoin ( LTC) Current Statistics
The current price: $144.75
Market Capitalization: $12,148,276,676
Trading Volume: $2,717,020,563
Major supply zones: $400, $420, $440
Major demand zones: $200, $180, $160

Litecoin (LTC) Price Analysis September 28, 2021
Litecoin’s (LTC) price has continued its downward move as it fell to the low of $146. The bears have succeeded in breaking the previous low at $155 as the altcoin resumed its downward move. The moving averages have indicated a sell signal as the 21-day SMA crosses below the 50-day SMA. LTC price is presently retesting the historical price level of July and June. If the bears break the $146 price level the downward move will continue.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 37 of the Relative Strength Index period 14. It indicates that the LTC price is in the downtrend zone and below the centerline 50. The market is approaching the oversold region. LTC price is below the 20% range of the daily stochastic. The crypto’s price has fallen to the oversold region of the market. As buyers emerge in the oversold region, Litecoin will resume its upward move.

Conclusion
LTC/USD has resumed a downward move as price breaks below the previous low at $155. The altcoin was earlier repelled at the $165 high. Meanwhile, on September 7 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LTC price will fall to the low of level 1.618 Fibonacci extension or level $105.55.

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.