Litecoin Rebounds as It Revisits the Overhead Resistance at $64

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Key Highlights
LTC has regained bullish momentum
Litecoin trades in the bullish trend zone

Litecoin (LTC) Current Statistics
The current price: $55.84
Market Capitalization: $4,690,799,366
Trading Volume: $529,322,607
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis October 25, 2022
Litecoin (LTC) price is making positive moves as it revisits the overhead resistance at $64. On October 23, buyers attempted to raise the coin over the lines of the moving average but were unsuccessful. Today, buyers are successful as they push the altcoin above the moving average lines. As the price breaks above the moving average lines, the altcoin is expected to revisit the previous highs. The overhead resistance at $64 will be tested again by the market as it rises. However, Litecoin is trading at $56 at the time of writing.

Litecoin Rebounds above $52 as It Revisits the Overhead Resistance at $64
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
For period 14, Litecoin is at level 60 of the Relative Strength Index. It implies that the coin is in the bullish trend zone and may rise. The price bars are above the moving average lines, which are sloping horizontally. Cryptocurrency is experiencing a bullish momentum above the daily Stochastic’s 80% zone. The coin has reached the overbought region.

Conclusion
On the 4-hour chart, Litecoin has regained bullish momentum as it revisits the overhead resistance at $64. On October 24 uptrend, a candle body tested the 61.8% Fibonacci retracement line. According to the retracement, LTC will rise to level 2.0 of the Fibonacci extension, or $57.85.

Litecoin Rebounds above $52 as It Revisits the Overhead Resistance at $64
LTC/USD – 4 Hour 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.