The $64 Resistance Halts Litecoin’s Rising Movement

Key Highlights
Litecoin price range is between S60 and $64
LTC price is in decline as it is overbought

Litecoin (LTC) Current Statistics
The current price: $64.01
Market Capitalization: $5,378,752,352
Trading Volume: $239,858,028
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis September 15, 2023
Litecoin’s (LTC) price is still moving sideways between $60 and $70 as the $64 resistance halts it’s rising movement.The negative trend was broken on August 17, resulting in the sideways trend.

On the plus side, Litecoin has been unable to establish a bullish trend due to opposition from the 21-day SMA. The 21-day SMA has stymied any rising movements. The bulls broke through the 21-day SMA on September 15, but the bullish impetus was short-lived.

Litecoin reached a high of $66 before being repulsed. The recent high occurred in an overbought market region.The coin has retraced above the 21-day simple moving average.If the current support holds, the altcoin will surge over the 50-day SMA.

Litecoin, on the other hand, will fall further if the price falls below the 21-day SMA.

Litecoin (LTC) Technical Indicators Reading
The recent upward correction has brought LTC to Relative Strength Index period 14 price level 45. The price of LTC is higher than the 21-day SMA but lower than the 50-day SMA. If the 21-day SMA support holds, the sideways movement will resume.

Litecoin has entered the market’s overbought zone. It tends to fall.

Conclusion
Litecoin is trading slightly higher as the $64 resistance halts Litecoin’s ascent . The 21-day SMA has limited the rising movement. The coin is now trading between $60 and $64 in value. Meanwhile, the existence of Doji candlesticks has limited price movement.

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