Litecoin (LTC) Technical Analysis Report | 12th-October-2023


In a historic moment for Litecoin, the network has achieved a significant milestone in its almost 12-year existence. The Litecoin Foundation proudly announces that the Litecoin network has processed its 180 millionth transaction. Presently, Litecoin is experiencing a week-long period of price consolidation, and its daily Relative Strength Index (RSI) is inching closer to the neutral threshold of 50. Despite Litecoin’s price largely stabilising following the August halving event, the network’s hash rate has recently surged to reach new all-time highs. This development underscores the ongoing vitality and expansion of the network.

At the time of writing, LTC was trading at $61.27.

Litecoin (LTC) Thursday Daily Chart-12th october 2023
Litecoin (LTC) Chart

LTC witnessed a sharp fall from the previous top of $115 and the prices corrected almost by 51% to $56. Post this move, the asset took support at $58 and gave a relief rally up to $70. Currently, LTC is trading sideways in a range from $59 to $69 with low volumes. Breakouts on either side of the range with good volumes will further decide the trend for the asset.

Key Levels:

  Support 2Support 1AssetResistance 1Resistance 2

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

Start Trading Now