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Litecoin (LTC) Breaks Crucial Support at $167.59, Eyes the $152 Low

Litecoin (LTC) Breaks Crucial Support at $167.59, Eyes the $152 Low

Litecoin Key Highlights as It Eyes the $152 Low

  • Litecoin price breaks below the previous support at $167.59 but eyes the $152 low
  • The altcoin is likely to decline to $152.91 low
  • LTC price fluctuates between levels $163 and $190

Litecoin (LTC) Current Statistics

The current price: $167.69
Market Capitalization:$14,092,348,523
Trading Volume: $2,299,060,046
Major supply zonens: $200, $220, $240
Major demand zones: $180, $160, $140

Litecoin (LTC) Price Long-Term Prediction: Bullish

Litecoin’s (LTC) price has fallen to the low of $174.35 from the recent high of $190 but eyes the $152 Low. On August 16, LTC/USD uptrend was terminated as the altcoin resumed a sideways move below the recent high. The sideways move is in a confined range between $163 and $190. Buyers have twice retested the upper price range at $190 but were repelled. The uptrend will resume if the resistance at $190 is breached. The crypto will further rise to $240 high. Conversely, the bears also attempted to break below the lower price range at $163 as bulls bought the dips. Litecoin will further decline $152 if the bears break the $163 support.

Litecoin (LTC) Breaks Crucial Support at $167.59, Eyes the $152 Low
LTC/USD – Daily Chart

 

Litecoin (LTC) Indicator Analysis

LTC price is at level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. LTC price has broken below the support line of the ascending channel. This implies that the downtrend has resumed. LTC price has fallen below the 20% range of the daily stochastic. It implies that the market has reached the oversold region of the market.

What Is the Next Move for Litecoin as It Eyes the $152 Low?

LTC/USD has resumed a downward move as it eyes the $152 low. LTC price has broken below the previous support of $167.59. The market is likely to further decline to the downside. Meanwhile, on August 30 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Litecoin will fall to level 2.0 Fibonacci extension or level $152.91. From the price action, the altcoin has fallen to the low of $166.77 at the time of writing.

Litecoin (LTC) Breaks Crucial Support at $167.59, Eyes the $152 Low
LTC/USD – 4 Hour Chart

Read More:  What are the Advantages of Litecoin (LTC) Cryptocurrency?

 

 Note:  Crypto-academy.org 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. 

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