Litecoin (LTC) Reaches the Oversold Region, Holds Above $126 Support

Updated:

Key Highlights
LTC price retests $126 support
Litecoin reaches the oversold region

Litecoin (LTC) Current Statistics
The current price: $131.48
Market Capitalization: $11,044,176,016
Trading Volume: $827,199,880
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis January 11, 2022
Litecoin’s (LTC) price has fallen to the low of $120 as it holds above $126 support. The cryptocurrency is trading at $131 at press time. On December 4 price slump, Litecoin fell to $126 low but made an upward correction. The upward correction was terminated at the high of $165. This caused the crypto to resume selling pressure. Today, the bears are retesting the current support to break below it. The crypto will resume up trending if the current support holds. On the other hand, LTC/USD will decline to $104 if the current support is breached.

Litecoin (LTC) Reaches the Oversold Region, Holds above $126 Support
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The crypto is at level 32 of the Relative Strength Index period 14. Litecoin is now in the oversold region of the market. The selling pressure has reached bearish exhaustion. LTC price bars are below the moving averages. The upward move will resume when prices are above the moving averages. Litecoin is also below the 20% area of the daily stochastic


Conclusion
LTC/USD is in a downward move and has reached the oversold region of the market as it holds above $126 support.. Meanwhile, on December 16, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Litecoin will fall but reverse at level 1.272 Fibonacci extension or $117.96.

 Litecoin (LTC) Reaches the Oversold Region, Holds above $126 Support
LTC/USD – Daily Chart

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

  • 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 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.