Litecoin Reaches Bearish Exhaustion as It Falls Above $96 Low
Login

Litecoin Reaches Bearish Exhaustion as It Falls Above $96 Low

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

Azeez Mustapha

Updated:

Key Highlights
LTC price has revisited the $96 low
LTC/USD will resume upward

Litecoin (LTC) Current Statistics
The current price: $99.10
Market Capitalization: $8,324,548,379
Trading Volume: $723,419,060
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis April 26, 2022
Litecoin’s (LTC) price is in a downtrend as it falls above $96 low. The bears have broken the crucial support at $102 to revisit the previous low at $96. The previous low is the historical price level of March 7. In March, the LTC price rebounded above the previous low as the altcoin broke above the moving averages to reach the high of $134. Today, if the previous low holds, LTC/USD will be compelled to a range-bound move between $102 and $115 price levels. However, further selling pressure is unlikely as the market reaches the oversold region.

Litecoin Reaches Bearish Exhaustion as It Falls AboveLow
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 35 of the Relative Strength Index for period 14. The altcoin has fallen close to the oversold region of the market. LTC’s price is below the moving averages as the altcoin continues to fall. Litecoin is below the 20% area of the daily stochastic. The market is already in the oversold region of the market. The 21-day line SMA and the 50-day SMA are sloping downward indicating a downtrend.


Conclusion
Litecoin is in a downward move as it falls above $96 low. Meanwhile, on April 11 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LTC will fall but reverse at level 1.272 Fibonacci extension or $85.47. From the price action, the market is hovering above the $96 support.

Litecoin Reaches Bearish Exhaustion as It Falls AboveLow
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