Litecoin Revisits the Barrier at $72 as It May Decline
Login

Litecoin Revisits the Barrier at $72 as It May Decline

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
LTC price reaches the high of $70
Litecoin may decline as it reaches the overbought region

Litecoin (LTC) Current Statistics
The current price: $70.30
Market Capitalization: $5,906,393,950
Trading Volume: $414,844,021
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis December 31, 2022
Litecoin (LTC) price revisits the barrier at $72 as it may decline. Despite reaching a high of $70, the cryptocurrency asset is unable to go above the moving average lines. If the price surpasses the barrier at $72 and the moving average lines, the altcoin will resume its positive trend. LTC/USD will increase and peak at $80. If buyers can break over the $72 resistance, Litecoin will move back up to the $80 mark. The market is overbought at the $72 resistance level. In the meantime, the price of Litecoin is now ranging between $60 and $72. If sellers breach the $60 present support, the altcoin will fall. This will cause the altcoin to drop to $47 as a result.

Litecoin Revisits the Barrier atas It May Decline
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is correcting upward at level 44 of the Relative Strength Index for period 14. LTC’s price is on the decline and may continue to do so in the future. The price bars are below the moving average lines, which suggests a potential decline. Litecoin is moving upward over level 25 on the daily Stochastic indicator.

Conclusion
In an upward correction, Litecoin is revisiting the barrier at $72 as it may decline. The decline will pick up again if it is rejected at the moving average lines. On December 19, LTC price saw an upward correction during a bearish trend, and a candle body tested the 78.6% Fibonacci retracement line. The correction predicts that Litecoin would fall but then rebound for $64.39, or the 1.272 Fibonacci extension.

Litecoin Revisits the Barrier atas It May Decline
US30USD – 4 Hour Chart

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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News