- The $63.51 resistance level is critical in Litecoin’s 2-hour chart. Breaking this resistance could increase the upward potential.
- In the 2-day chart, the range of $59 – $62 appears as support for Litecoin. The price staying within this range could be a positive sign for an upward movement.
- If the LTC price falls below $59, the downward trend could strengthen and move towards lower support levels.
When examining Litecoin’s 2-day technical chart, it can be seen that the LTC price is moving horizontally near the support range of $62 – $59. If the price closes above $59 on a daily basis, it can continue the upward trend and targets could be $72 and then $75.
MEDIUM-TERM LTC ANALYSIS
2-Day LTC/USD Price ChartWhen examining Litecoin’s 2-day technical chart, it can be seen that the LTC price is moving horizontally near the support range of $62 – $59. As long as the LTC price closes above $59 on a daily basis, it can maintain the upward trend, and the initial targets are observed to be $72 and then $75.
If the Litecoin price can close above $75 for 2 consecutive days, the next target will be $81. However, if the LTC price closes below the daily support of $59, there is a possibility of continuing the downward trend towards $55 and then $52 levels.
Finally, it is important to note that if the LTC price closes below $59 on a daily basis, it could extend the downward trend to $49.37.
SHORT-TERM LTC ANALYSIS
When examining Litecoin’s 2-hour technical chart, it can be observed that the LTC price is moving close to the $63.51 resistance level. If the LTC price can achieve 2-hour candle closes above $63.51, it can sustain the upward movement towards $64.83 and then $67.
However, if the LTC price fails to break the $63.51 resistance, it could extend the downward trend to $62.37 and then $61.69. Finally, if the Litecoin price can achieve 4-hour candle closes above $65, it could extend the upward target to $70.
