Litecoin Revisits the Previous Low, May Decline to $54 Low
Login

Litecoin Revisits the Previous Low, May Decline to $54 Low

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
LTC price declines to the previous low
LTC/USD in a range-bound move

Litecoin (LTC) Current Statistics
The current price: $62.60
Market Capitalization: $5,258,014,754
Trading Volume: $739,239,509
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis May 31, 2022
Litecoin’s (LTC) price is in a downtrend as it may decline to $54 low. The crypto is attempting to resume downward. On the downside, if the price breaks below the $60 support, the LTC price will fall and revisit the previous low at $54. On the upside, LTC price movement has been restricted below the 21-day line moving average. Nonetheless, LTC/USD will continue its downward move to the previous low.

Litecoin Revisits the Previous Low, May Decline toLow
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The recent upward move has pushed Litecoin to level 39 of the Relative Strength Index for period 14. The crypto is in the downtrend zone and capable of a further downward move. The crypto’s price is below the 21-day line SMA and the 50-day line SMA which is responsible for the downward move. Litecoin is below the 40% area of the daily stochastic. The 21-day line SMA and the 50-day SMA are sloping downward indicating a downtrend


Conclusion
Litecoin has continued its downward move as it may decline to $54 low. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that LTC will fall to level 1.272 Fibonacci extension or $50.09 .

Litecoin Revisits the Previous Low, May Decline toLow
LTC/USD – Daily 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