Litecoin Struggles Below $115 High. May Revisit $100 Low

Updated:

Key Highlights
LTC price faces rejection at $115
LTC/USD resumes selling pressure

Litecoin (LTC) Current Statistics
The current price: $112.63
Market Capitalization: $9,460,272,062
Trading Volume: $651,185,737
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis April 19, 2022
Litecoin’s (LTC) price is in a downtrend but it may revisit $100 Low. LTC price has retested the 50-day line SMA twice but is unable to break above it. It is also facing rejection at the $115 high. . On the upside, if price breaks above the moving averages, the market will rally to the high of $130 price level. The cryptocurrency is likely to face rejection at the recent high. Besides, it is testing an overbought region of the market. The altcoin will fall to the low of $100. Litecoin will be compelled to a range-bound move between $100 and $115 price levels if the $100 support holds.

Litecoin Struggles Below $115 High. May Revisit $100 Low
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has fallen to level 51 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The 21-day line SMA and the 50-day SMA are sloping horizontally indicating a sideways trend. . Litecoin is below the 40% area of the daily stochastic. The altcoin is in a bearish momentum. LTC price is below the moving averages indicating a further downward movement of the cryptocurrency.

Conclusion
Litecoin is in a downtrend but it may revisit $100 Low. Buyers are making frantic efforts to break above the moving averages. Meanwhile, on April 1 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that LTC will fall to level 2.618 Fibonacci extension or $95.95.

Litecoin Struggles Below $115 High. May Revisit $100 Low
LTC/USD – Daily 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.