Litecoin (LTC) Resumes Upward but Is Stuck Below $220

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Key Highlights
LTC price rebounds above $182
Litecoin is in the bearish trend zone

Litecoin (LTC) Current Statistics
The current price: $213.02
Market Capitalization: $17,893,842,428
Trading Volume: $2,126,017,148
Major supply zones: $200, $220, $240n the
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis November 30, 2021
Litecoin’s (LTC) price has been in a downward move. The downtrend has reached bearish exhaustion as the altcoin reached the low of $189 and pulled back. On November 28, the LTC price rebounded above $182 but was stalled at $220. LTC price broke above the 50-day line moving average but pulled back because of the resistance at $220.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has risen to level 48 of the Relative Strength Index period 14. The market is in a bearish trend zone and below the centerline 50. The price bars are below the moving averages indicating a possible fall. Litecoin is in a bullish momentum as it is above the 40% range of the daily stochastic.

Conclusion
Litecoin is in a downward move as price reached the low of $189 low The crypto’s price has resumed an upward move. Meanwhile, on November 19 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that LTC will fall but reverse at level 1.272 Fibonacci extensions or $177.81.

LTC/USD – Daily Chart

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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.