Litecoin price levels fluctuate between $52 and $58 as it may fall

Aug 30, 2022 12:12 // price

Litecoin (LTC) is on a downward trend, falling to a low of $52. The cryptocurrency rose yesterday as it approached the $58 resistance level.

Since August 26th, the altcoin has been trading between $52 and $58. Litecoin will pick up momentum once buyers push the price above his $58 high.

LTC price will rise above the moving averages. LTC/USD will rise and retarget the top resistance at $64. Conversely, if the bears break the $52 support, the downtrend will resume. The market then falls further to lows of $44 and $49. As of this writing, Litecoin is trading at $55.

litecoin indicator analysis

Litecoin is at level 45 of relative strength for period 14. The XRP price bar has broken below the moving averages and is showing further downward movement. Cryptocurrencies cross the 40% area of ​​the daily stochastic. Litecoin is bullish.

LTCUSD (daily chart)+-++August+30.png

Technical indicators:

Main Resistance Levels – $200 and $250

Major Support Levels – $100 and $50

What’s Next for Litecoin?

Litecoin has revised upward as the market has reached oversold territory. Fibonacci tool analysis will take hold if LTC rises from recent highs. On the weekly chart, the candlestick tested his 78.6% Fibonacci retracement level on March 21st. The retracement suggests that the LTC price will fall, but will reverse at the 1.272 or $0.40 Fibonacci extension level.


Disclaimer. This analysis and predictions are the author’s personal opinion and are not endorsements to buy or sell cryptocurrencies and should not be considered endorsements by CoinIdol. Readers should do their own research before investing in any fund. Litecoin price levels fluctuate between $52 and $58 as it may fall

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