Litecoin (LTC) Reaches the Oversold Region, Uptrend Likely
Login

Litecoin (LTC) Reaches the Oversold Region, Uptrend Likely

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
LTC resumes downward correction
Litecoin declines, may reach the previous low at $164

Litecoin (LTC) Current Statistics
The current price: $170.05
Market Capitalization: $14,302,410,670
Trading Volume: $2,656,506,834
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis October 12, 2021
Litecoin’s (LTC) has resumed a downward move after buyers fail to break above the $180 resistance. Since October 6, buyers have been struggling below $180 resistance to breaking above it. However, the bulls were overwhelmed as the altcoin resumed its downward move. The altcoin has retraced to the low of $169. The uptrend will resume if price finds support above $169 or above the 21-day SMA. On the other hand, if price breaks below 21-day SMA, the selling pressure will resume on the downside.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The crypto‘s price is falling as it breaks below the 50-day line SMA. However, if it breaks below the 21-day line SMA, the selling pressure will resume. The altcoin is below 20% area of the daily stochastic. Litecoin has fallen to the oversold region. The implication is that selling pressure has reached bearish exhaustion. Buyers may emerge.

Conclusion
On the 4 –hour chart, Litecoin has fallen to the oversold region. It indicates that the downtrend is coming to an end. From the price action, the LTC price has retested the $166 support and pulled back. Meanwhile, on October 11 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the crypto will fall to level 2.618 Fibonacci extension level or level $164.64.

LTC/USD – 1 Hour 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News