Litecoin Rebounds as It Attempts to Retake Its Prior High of $105

Key Highlights
Litecoin rebounds above the moving average lines
LTC/USD targets above the $105 high

Litecoin (LTC) Current Statistics
The current price: $97.34
Market Capitalization: $8,176,481,144
Trading Volume: $516,009,873
Major supply zones: $140, $160, $180
Major demand zones: $120, $100, $80

Litecoin (LTC) Price Analysis March 1, 2023
Litecoin (LTC) price rises as it attempts to retake its prior high of $105. Buyers are pushing the altcoin to revisit its previous highs. The upward trend will restart once the prior high is crossed. The recent high of $98.00, however, is rejecting the current upward advance as Litecoin reverses from that point. Price could resume its upward trend if it crosses back over the 21-day line SMA. Selling pressure will increase once more if the price falls below the 21-day line SMA. Litecoin will keep falling, reaching a low of $88 or $84. Alternatively, the crypto will be confined between the moving average lines.

Litecoin (LTC) Technical Indicators Reading
Litecoin has reentered the positive trend zone, according to the Relative Strength Index level of 14. The altcoin has the potential for further growth. The price bars are above the moving average lines as the rising trend continues. Litecoin is now falling as it reaches the overbought zone above level 80 of the daily Stochastic.


Conclusion
Litecoin has regained positive momentum as it attempts to retake its prior high of $105. The current upsurge has caused the market to become overbought. Litecoin is retracing above the moving average lines. The current upswing will continue if the price finds support above the moving average lines.

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