Key Highlights
LTC struggles to break above the SMAs
Litecoin may face further rejection at the recent high
Litecoin (LTC) Current Statistics
The current price: $47.57
Market Capitalization: $3,125,947,038
Trading Volume: $1,810,961,358
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10
Litecoin (LTC) Price Analysis October 20, 2020
For the past week, buyers were in control as they push price above the moving averages. The bulls could not sustain the uptrend as price was rejected at the $51 resisted. The coin fell to the low above $45, while buyers struggle to resume a fresh uptrend.
Today, Litecoin is rising as it approaches the previous high of $51. If buyers push price above $51, the upside momentum will resume. The coin will rally to $58 or $62 high. On the other hand, if the coin fails to push above the SMAs. The crypto is likely to fall into the range-bound zone.
Litecoin (LTC) Technical Indicators Reading
LTC price has broken above the 21-day SMA. A break above the SMAs will propel the coin to rise. The crypto is above the 40% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The SMAs are sloping southward indicating the downtrend.
Conclusion
From the price action, LTC has shown signs of bullish momentum. On October 19 uptrend, a retraced candle body tested the 78.6 % Fibonacci retracement level. With the retracement, the coin is expected to rise and reach level 1.272 Fibonacci extension. That is LTC will rise and reach a high of $48.94 but will reverse and return to the 78.6% Fibonacci retracement level.
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
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.