Litecoin Retraces and Holds above $87 as It Resumes Upward

Key Highlights
Litecoin is halted at $92
LTC/USD is in decline

Litecoin (LTC) Current Statistics
Market Capitalization: $7,335,610,472 
Major supply zones: $140, $160, $180
Major demand zones: $80, $0, $80

Litecoin (LTC) Price Analysis June 26, 2023
Litecoin’s (LTC) price has broken above the moving average lines as it resumes upward. The present bullish trend has been in place since June 15. The crypto’s price broke above the moving average lines, but the momentum was halted at the $92 high.

At the time of writing, the altcoin is trading at $88.64. The overhead resistance at $100 has halted the altcoin’s upward movement, causing it to trade sideways. Any further upward movement may be met with resistance at the recent high.

The LTC price is currently retreating after a rejection from the high of $92. On the downside, if the altcoin retraces and hold above the moving average lines, the present rise may continue. If the price falls below the moving average lines, the decline will resume.

Litecoin (LTC) Technical Indicators Reading
Litecoin is in the uptrend zone at level 55 of the Relative Strength Index level for period 14. Following the retracement, the price bars are above the moving average lines. If the price of LTC remains and holds above the moving average lines, it may rise. Litecoin is rising at level 25 of the daily Stochastic.

Conclusion
The price of Litecoin has retraced and is now above the moving average lines as it resumes upward. The cryptocurrency’s price has retraced between the moving average lines on the 4-hour chart. The implication is that the coin will be forced to move in a range between the moving average lines.

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