Litecoin Reaches an Overbought Region as It Faces Rejection at $80
Login

Litecoin Reaches an Overbought Region as It Faces Rejection at $80

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

Azeez Mustapha

Updated:

Key Highlights
LTC price fluctuates below $80
Litecoin targets the high of $100

Litecoin (LTC) Current Statistics
The current price: $78.99
Market Capitalization: $6,596,308,420
Trading Volume: $776,191,746
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis November 29, 2022
Litecoin (LTC) price is rising but faces rejection at $80. A new upsurge has started as the coin has increased. Litecoin peaked at $83 on November 23 but fell short of the $80 resistance. Litecoin has been oscillating below the $80 high for the past week. On the upside, the market will reach a high of $100 if buyers can overcome the $80 resistance. The market was overbought, nevertheless, just below the most recent high. If Litecoin is rejected in the overbought area, its price can decrease. The alternative currency will initially fall to the $64 breaking point. LTC/USD is trading at $76.71 at the time of writing.

Litecoin Reaches an Overbought Region as It Faces Rejection at
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
According to the Relative Strength Index, Litecoin is at level 64 right now. The cryptocurrency is still trading in the bullish trend zone as the market enters the overbought territory. An additional indication that the price of the cryptocurrency will increase is the fact that the moving average lines are higher than the price bars.


Conclusion
The price of Litecoin is rising but faces rejection at $80. The current high of $80 has slowed the bullish momentum. A retraced candle body on the upswing of November 24 tested the 61.8% Fibonacci retracement line. According to the retracement, LTC will increase to level 1.618 of the Fibonacci extension, or $97.02. At the current high of $80, Litecoin’s upward trend has been halted.

Litecoin Reaches an Overbought Region as It Faces Rejection at
LTC/USD – Daily Chart

You can purchase crypto coins here: Buy LBLOCK

 

 

 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