- As long as the LTC price continues to close above the level of $76, the uptrend can continue towards the level of $84.
- If the support level of $74 is broken, the LTC price may extend the downward trend to the level of $70.
- The support zone of 71.36$ – 67$ for LTC can trigger the potential for an uptrend if the price approaches these levels.
The daily price analysis of Litecoin shows that LTC is moving between certain support and resistance levels and attention should be paid to upcoming price movements.
Medium-Term LTC Price Analysis
Daily LTC/USD Price Chart
When the daily price chart of Litecoin is examined, it is seen that LTC continues its horizontal movements in the daily support zone. Today, the LTC price has reached the level of $79.79 with a rise of more than 2.20%.
As long as the LTC price continues to close above the specified support zone of $76 on a daily basis, the uptrend can continue towards the level of $84.
LTC has the potential to continue the uptrend as long as it maintains the support level of $74. However, if LTC makes daily closes below the level of $76, it may extend the downward movement to the level of $70.
On the other hand, there is a strong support zone for LTC in the range of $71.36 – $67. When the LTC price approaches this zone, it may encounter the desire to start the uptrend from here. However, LTC needs to make daily closes below the level of $76 to reach this zone.
Short-Term LTC Price Analysis
2 Hourly LTC/USD Price Chart
When the 2-hourly price chart of Litecoin is examined, it is observed that LTC continues its movements within the uptrend.
As long as the LTC price holds above the designated red trend line, it can continue the uptrend towards the level of $83.
However, for LTC to rise to the level of $83, it needs to surpass the resistance level of $79 and make 2-hourly candlestick closes above the red trend line.
If the LTC price makes closes below the red trend line, it may extend the downward movement towards the level of $75.
If it encounters strong buying demand at the level of $75, the LTC price can rise again to the level of $78. However, it is important to surpass the resistance level of $79 for further upward movement.
In summary, according to the 2-hourly price analysis of Litecoin, it is important for LTC to hold above the red trend line and surpass the resistance level of $79 to continue the uptrend.
