Litecoin Rally Halts as It Challenges the Resistance at $102

Key Highlights
Litecoin reaches a high of $102
The altcoin will rise in the bullish trend zone.

Litecoin (LTC) Current Statistics
The current price: $98.49
Market Capitalization: $8,275,718,026
Trading Volume: $649,009,867
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis February 8, 2023
The price of Litecoin (LTC) is rising, but the bullish momentum has come to a halt at the high of $102. Buyers have been unable to maintain the positive momentum above the current high since February 1. The $102 resistance is being tested once more by the altcoin. Near the most recent high, the market has overbought. If the current resistance is overcome, the market will rise to a peak of $112. On the other side, if it fails to surpass the most recent high, the LTC price will keep moving in a band between $88 and $102. However, if price falls below the $88 support or the 21-day line and the bearish momentum is maintained, the present uptrend may come to an end. In the future, Litecoin will fall to a low of $80 and then to a low of $72.

Litecoin (LTC) Technical Indicators Reading
After reaching the Relative Strength Index level of 64 for period 14, buyers kept up their upward momentum. Cryptocurrency prices will rise and top previous peaks. The price bars are above the moving average lines, which indicates an upward tendency in the price. The price of LTC has surpassed the daily Stochastic’s level of 80.

Conclusion
Litecoin is in a range-bound move below the $102 resistance level. The cryptocurrency asset is trading in a narrow range. The current uptrend is pending as buyers continue to retest the recent high. In the meantime, the altcoin has continued to fluctuate above the moving average lines.

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