Litecoin Price Is Vulnerable as It Risks a Decline below $60

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Key Highlights
LTC price consolidates above the $6o support
Litecoin holds above the $60 support

Litecoin (LTC) Current Statistics
The current price: $66.26
Market Capitalization: $5,565,382,352
Trading Volume: $196,242,075
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis December 25, 2022
Litecoin (LTC) price fell below the moving average lines, signaling a decline on December 19 as it risks a decline below $60. After several retests of the $80 resistance, the LTC price finally breaks below the moving average lines. On December 19, Litecoin experienced a low of $61 before moving higher. The $66 high is where the current bullish movement is meeting resistance. LTC’s price has been ranging between $60 and $66 recently. to Doji candlesticks, which have a small body and lack decisiveness, the range-bound levels have not been broken. If the current support is broken, the market will fall to $47 on the downside. Buyers will face a challenge in breaking through the initial resistance and the moving average lines on the upside. The altcoin will be propelled by this to its previous high of $80. LTC/USD is currently trading at $65.97 as of the writing of this article.

Litecoin Price Is Vulnerable as It Risks a Decline below $60
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
For period 14, LTC is at level 40 of the Relative Strength Index. The cryptocurrency is in a bearish trend zone and could continue to fall. The price bars are vulnerable to falling because they are below the moving average lines. Litecoin is experiencing a bearish momentum below the daily Stochastic level of 60.

Conclusion
The selling pressure on LTC/USD has reached its bearish limit as it risks a decline below $60. The price of the cryptocurrency is currently settling above the $60 support. Doji candlesticks have caused the price movement to remain unchanged.

Litecoin Price Is Vulnerable as It Risks a Decline below $60
LTC/USD – 4 Hour 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.