Litecoin (LTC) Is Consolidating Above $150 Support, an Upward Move Likely

Azeez Mustapha
5 January 2021 | Updated: 5 January 2021

Key Highlights
Litecoin rallies to $173 high
The crypto retraces and consolidates above $150

Litecoin (LTC) Current Statistics
The current price: $155.53
Market Capitalization: $13,041,184,466
Trading Volume: $9,609,246,821
Major supply zones: $120, $140, $160
Major demand zones: $90, $70, $50

Litecoin (LTC) Price Analysis January 5, 2021
Litecoin has retraced from $173 to $150 support. The crypto is consolidating above the current support for a possible upward move. The previous uptrend was a breakout from the $140 resistance. For the past week, LTC has been fluctuating between $120 and $140 before the recent breakout. On the upside, if the bulls break the $170 resistance, the coin will rally above the $200 high. However, the coin will continue its consolidation above $150 support if the current resistance level remains unbroken.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is above the 80% range of the daily stochastic. It indicates that the coin is in a strong bullish momentum. Also, LTC is trading in the overbought region of the market. The SMAs are sloping upward indicating the uptrend.

LTC/USD – 4 Hour Chart

Conclusion
Litecoin is currently fluctuating above $150 support. On January 4 uptrend; a retraced candle body tested the 61.8%Fibonacci retracement level. The retracement indicates that the crypto will reach level 1.618 Fibonacci extensions or the high of $202.77.


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 result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

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.