- On the hourly Litecoin price chart, LTC can continue its upward movement by surpassing the $79 resistance.
- On the daily price chart of LTC, closing below the level of $80.40 can continue the downward trend.
- It is important for LTC to stay above the support level of $75 for its upward movement.
When we examine the price chart of Litecoin, we observe that certain levels are important in hourly and daily time frames. While surpassing the $79 resistance supports the rise of LTC on the hourly chart, on the daily chart, staying below the level of $80.40 can continue the downward trend.
Medium-Term Litecoin Price Analysis
Daily LTC/USD Price Chart
When the daily price chart of Litecoin is examined, it is observed that the price is moving below an important resistance level.
If LTC continues to close below the level of $80.40 on a daily basis, it can continue the downward trend towards the levels of $70.25.
The nearest support zone is located at the levels of $75, and LTC price can aim to start its upward movement from these levels as long as it stays above the support of $75.
However, first, the price of LTC must make daily closings above the level of $80.40.
If the price of LTC makes daily closings above the level of $80.40, it can continue its upward movement towards the level of $85.77.
Short-Term LTC Price Analysis
1 Hourly LTC/USD Price Chart
When the hourly Litecoin price chart is examined, it is seen that LTC needs to make hourly closings above the level of $79 to continue its upward movement.
As long as LTC stays above the level of $77, its price can move with the desire to test the resistance of $79.
If Litecoin makes 4-hourly closings above the level of $79, it can aim for an upward movement towards the level of $83 mentioned in the analysis.
However, if the LTC price cannot surpass the resistance of $79, it can repeat the downward movement towards the levels of $75.
