- The price of Litecoin must close above $93.83 for 3 hours on a candlestick basis and maintain stability above this level.
- If LTC continues its momentum above the $93.83 level, it can target $103 and the next target could be $115.
- Strong buying support from the $90 level for Litecoin increases the likelihood of the upward trend continuing.
The price of Litecoin can enter an uptrend by surpassing a certain resistance level in a short time frame. According to the analysis, LTC has the potential to reach its target levels if it surpasses this resistance. However, it is important to accurately monitor the support and resistance levels of LTC.
Medium-Term Litecoin Price Analysis
Daily LTC/USD Price Chart
When examining the daily technical chart of Litecoin, it can be seen that it encountered strong buying support from the $90 level and rose to $94.23. It is stated that LTC is currently trading at $92.24.
If the Litecoin price makes daily candlestick closes above the $90 level as indicated in the analysis, it can rise from this area to $130. However, LTC needs to make daily candlestick closes above $115 before reaching the $130 target.
If LTC makes daily candlestick closes above $105, the likelihood of a rise to $130 will further strengthen. However, it is important for Litecoin to hold onto the $90 support for all these bullish scenarios to materialize. If the Litecoin price makes daily candlestick closes below $90, it can decline to $85.95, continuing the downward trend.
It is of great importance for Litecoin to encounter strong buying reactions from the $85 support. Coinotag analysts predict that LTC will enter an uptrend with strong buying from the $86 – $90 range.
Short-Term LTC Price Analysis
3-Hour LTC/USD Price Chart
In order to initiate an uptrend in a short time frame, the Litecoin price must make 3-hour candlestick closes above the $93.83 level. If LTC can sustain its candlestick closes above $93.83, it can continue its rise towards $103.
If LTC makes candlestick closes above the $104 level, the next target could be $115. However, if 3-hour candlestick closes above the $93.83 level are not observed, the downward movement can extend to $88.88.
If the Litecoin price makes 3-hour candlestick closes below the $88.88 level, it can continue its decline to the $85.77 – $84.25 support zone. According to Coinotag analysts, if LTC encounters strong buying from the $85.77 – $84.25 support levels, it is predicted to enter an uptrend.
