Litecoin (LTC) Recovers Above $220 Support, Resumes Up Trending
Login

Litecoin (LTC) Recovers Above $220 Support, Resumes Up Trending

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
Litecoin falls and finds support above $220
The altcoin resumes an upward move as price reaches the overbought region


Litecoin (LTC) Current Statistics
The current price: $250.47
Market Capitalization: $21,022,256,372
Trading Volume: $4,521,614,241
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis April 27, 2021
Litecoin has been in a downward movement since April 17. The altcoin fell and found support above the 50-day SMA. In other words, the coin fell above $220 and resumed consolidation above it. LTC consolidated and corrected upward. The upward correction has reached the overbought region of the market. The market upward move is doubtful as price reaches the overbought region. Besides, the LTC price is facing rejection at the 21-day SMA.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is at level 52 of the Relative Strength Index period 14. This implies that the crypto is in an uptrend zone and capable of rising on the upside. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. LTC has risen and it is above 80% range of the daily stochastic. The market has reached the overbought region. This may attract sellers to push prices down.

LTC/USD – 4 Hour Chart

Conclusion
On the 4 –hour chart, Litecoin is in a downward correction. The upward correction is facing rejection at the 21-day SMA. Meanwhile, if the price retraces and breaks below the $220 support level the selling pressure will resume. Meanwhile, on April 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the market will fall to level 1.61 Fibonacci extension or the low of level $158.10

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