Litecoin Reaches Oversold Region and May Hold above $80
Login

Litecoin Reaches Oversold Region and May Hold above $80

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

Azeez Mustapha

Updated:

Key Highlights
Litecoin declines as it reaches the low of $80
LTC price is now in the oversold region of the market

Litecoin (LTC) Current Statistics
Market Capitalization:$7,168,689,167
Trading Volume: $774,302,971
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis May 23, 2023
The price of Litecoin (LTC) is currently falling below the moving average lines and may hold above $80. The cryptocurrency asset was earlier above moving average lines. The upward corrective came to an end at $95. The price of the cryptocurrency has deviated below the moving average, indicating a further decline. The downward trend is probably going to go all the way to the low of $80. The market stretched to a low of $76 in the previous price action. A bullish trend will resume if the LTC price bounces again over the $80 barrier.

Litecoin Reaches Oversold Region and May Hold above
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The Relative Strength Index for Period 14 shows that Litecoin has dropped to the negative trend zone at level 44. In the bearish trend zone, there will probably be more selling pressure. When the price bars are below the moving average lines, the cryptocurrency will decline. Litecoin is now trading in an oversold area of the market. It alludes to the imminent release of the selling pressure.

Conclusion
Litecoin is now heading downward after an unsuccessful upward reversal and may hold above $80. The altcoin is presently trading at $85.07, and it is expected to further decline to $80. The altcoin will resume its range-bound movement between $80 and $105 per unit if the $80 support holds.

Litecoin Reaches Oversold Region and May Hold above
LTC/USD – 4 Hour 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