Litecoin (LTC) Is Stable as It Continues to Consolidate Between $45 and $51

Litecoin (LTC) Is Stable as It Continues to Consolidate Between $45 and $51

Key Highlights
Litecoin fluctuates between $45 and $51
The range-bound movement will continue for a few more days

Litecoin (LTC) Current Statistics
The current price: $49.48
Market Capitalization: $3,238,777,591
Trading Volume: $2,155,437,256
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

LTC/USD – Daily Chart

Litecoin (LTC) Price Analysis September15, 2020
Litecoin has continued to be range-bound between $45 and $51. The price action has remained the same since September 3. The prices have been confined in a range. A breakdown or breakout will determine the direction of the market. On the upside, if the price breaks the $51 high, and momentum extends above $59, the uptrend will resume. Conversely, if price breaks below $45, the coin will decline to $39.

Litecoin (LTC) Technical Indicators Reading
Litecoin is horizontally flat at level 42 of the Relative Strength Index period 14. LTC is still in the downtrend zone and below the centerline 50. The price bars are below the SMAs which suggests a downward movement of the prices.

LTC/USD – Daily Chart

LTC is rising above the lower price range after it was repelled at the upper price range. The range-bound movement will continue as long as the key levels remain unbroken. Meanwhile, price is relatively stable within the price range. The market will drop to 1.272 Fibonacci retracement level if price breaks the lower price range.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.