Litecoin Trades below the $80 High as It May Decline

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Key Highlights
LTC price will fluctuate between $64 and $80
Litecoin targets the high of $100

Litecoin (LTC) Current Statistics
The current price: $78.43
Market Capitalization: $6,588,607,127
Trading Volume: $735,127,124
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis November 29, 2022
Litecoin (LTC) price is moving horizontally beneath the $80 barrier level as it may decline. At the most recent high, the ongoing uptrend came to an end. As it trades in the overbought area of the market, Litecoin may experience a fall. For the previous week, Litecoin has been fluctuating below the $80 high. The breakout level and the most recent high will force the cryptocurrency to trade in a range-bound fashion. In other words, the price of Litecoin will range between $64 and $80. As long as the range-bound levels are unbroken, the sideways movement continues. If buyers manage to sustain the price above the $80 high, the altcoin will restart. When the bears breach below the $64 level, the market will resume a downtrend.

Litecoin Trades below the $80 High as It May Decline
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is currently at level 64 on the Relative Strength Index. As the market moves into an overbought area, the cryptocurrency is still trading in the bullish trend zone. The fact that the moving average lines are higher than the price bars is another sign that the price of the cryptocurrency will rise.

Conclusion
Litecoin faces the resistance at $80 as it may decline . Presently, the coin has resumed a sideways move below the resistance level. The cryptocurrency will be fluctuating above the moving average lines and the recent high. A break below the current uptrend will terminate the sideways move.

Litecoin Trades below the $80 High as It May Decline
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.