Litecoin Rallies To $60 High But Declines As It Revisits $41 Low

Updated:

Key Highlights
LTC price fluctuates between the moving averages
It altcoin risks further decline


Litecoin (LTC) Current Statistics
The current price: $52.38
Market Capitalization: $4,385,985,758
Trading Volume: $533,179,290
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis June 28, 2022
Litecoin’s (LTC) price is in a downward correction as it revisits $41 Low. LTC price has been fluctuating between the moving averages. Litecoin has been in a downward move after the bulls fail to break the $60 resistance zone. The coin has declined to the low of $52 at the time of writing. The selling pressure will be accelerated if price breaks below the 21-day line SMA. Nevertheless, the current fluctuation will continue if the 21-day line SMA support holds.

Litecoin Rallies To $60 High But Declines As It Revisits $41 Low
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 43 of the Relative Strength Index for period 14. It is in the downtrend zone as it continues its downward move. The crypto’s price is between the moving average lines indicating a possible range-bound move. However, the bears are attempting to break below the 21-day line SMA. Litecoin is below the 80% area of the daily stochastic. It indicates that the market is in a bearish momentum.


Conclusion
Litecoin is in a downward move as it revisits $41 Low. The altcoin is facing rejection at the $60 resistance zone. The market will decline to the previous low at $41 if the 21-day line SMA is breached. Since June 25, the altcoin has been confined between the moving averages.

Litecoin Rallies To $60 High But Declines As It Revisits $41 Low
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.