Litecoin Reaches the Oversold Region as It Holds above $92

Key Highlights
Litecoin faces rejection at $105
LTC/USD resumes selling pressure

Litecoin (LTC) Current Statistics
The current price: $94.75
Market Capitalization: $7,958,442,735
Trading Volume: $733,324,203
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis February 21, 2023
The price of Litecoin (LTC) has fallen into the bearish trend zone as it holds above $92. The cryptocurrency asset is situated between the moving average lines. When the moving average lines are crossed, Litecoin will trend. The current decline has reached the oversold area of the market. The cryptocurrency asset will be compelled to move in a range between the moving averages for a few days. But the downtrend might return if the price falls beneath either the $90 support or the 50-day line moving average. If the price of Litecoin rises above the 21-day SMA, the bullish trend will resume.

Litecoin (LTC) Technical Indicators Reading
Litecoin is still at level 49 on the 14-period Relative Strength Index despite its decline. Altcoin prices have fallen to their equilibrium point. Litecoin may be moving within a range at the moment because the price bars are situated in between the moving average lines. The trend has moved into the oversold area of the market when it is below the daily Stochastic level of 20.

Conclusion
The cryptocurrency asset has reached the oversold region of the market as it holds above $92. The movement will most likely be range-bound between the moving average lines. If the current support persists, the upward trend will resume. Litecoin has recently regained its bullish momentum.

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