Key Highlights
Litecoin recovers from a downtrend
LTC/USD resumes range-bound move
Litecoin (LTC) Current Statistics
The current price: $51.32
Market Capitalization: $4,311,164,090
Trading Volume: $257,885,671
Major supply zones: $200, $220, $240
Major demand zones: $80, $60, $40
Litecoin (LTC) Price Analysis October 16, 2022
Litecoin’s (LTC) price has continued to trade in a confined range as it challenges the $52 resistance. Since September 19, the altcoin has been trading between $50 and $56 price levels. The upward moves have been restrained by the 50-day line SMA or the resistance at $56. On the downside, buyers have been defending the current support at $50 for the past three weeks. Meanwhile, on October 13, sellers breach the current support to reach the low of $48 price level. Litecoin has recovered as bulls bought the dips. The coin has resumed its range-bound move between the $50 and $56 price levels. Litecoin is rising to its previous highs. The selling pressure will resume if the altcoin turns down from the moving average lines.
Litecoin (LTC) Technical Indicators Reading
Litecoin is in a downward move as it reaches level 43 of the Relative Strength for period 14. The coin risks decline if the price bars remain below the moving average lines. Litecoin is trading above the 25% range of the daily stochastic. It is in a bullish momentum.
Conclusion
Litecoin is trading above the $50 support for the past three weeks as it challenges the $52 resistance. The cryptocurrency will further decline if the current support is breached. On September 19 downtrend; LTC price corrected upward, and a candle body tested the 61.8% Fibonacci retracement level. The corrections suggest that LTC will fall to level 1.618 Fibonacci extension or $46.07 .
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.