Litecoin Rebounds as It Rallies to the $83 High

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Key Highlights
LTC price rallied to $83
Litecoin reaches an overbought region

Litecoin (LTC) Current Statistics
The current price: $80.48
Market Capitalization: $6,759,927,842
Trading Volume:$1,992,872,149
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis November 23, 2022
Litecoin (LTC) price has crossed above the moving average lines as it rallies to the $83 high. The resistance at the $64 high has been overcome as the altcoin surged to a high of $83. Litecoin has moved to an overbought region after overcoming the barrier at $64 in price. If it is rejected at the overbought area, it will fall to the breakout level of $70. However, the positive momentum will continue to build until the next obstacle at $101. At the time of writing, the price of LTC is $81.37.

Litecoin Rebounds as It Rallies to the $83 High
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The current level of Litecoin on the 14-period Relative Strength Index is 73. The price of Litecoin has risen to an overbought level. Bullish momentum has run its course. The price bars are currently above the moving average lines, pointing to an increase in price for the cryptocurrency. With its daily Stochastic level above 80, Litecoin is going upward.

Conclusion
Litecoin has started to surge upward once more as it rallies to the $83 high. After reaching the high of $83.43, it is now retracing. If it retraces above the $70 low and holds, the uptrend will restart. The previous resistance level of $70 is now a support level.

Litecoin Rebounds as It Rallies to the $83 High
LTC/USD – Daily Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.