- In the 4-hour technical chart of Litecoin (LTC), an upward movement started from the support zone between $88.88 and $85.77, and the price rose to the resistance level of $95.76.
- If the LTC price maintains its stability above the level of $95.77 with 4-hour candlestick closures, it can continue its upward movement towards the levels of $103.69.
- If the LTC price closes below the level of $88.88 on a 4-hour basis, it can extend its decline to the range between $85.77 and $83.25, but it may encounter strong buying reactions from this support range.
When examining the current technical chart of Litecoin, we see that the price is moving between important support and resistance levels. The reactions to specific support and resistance zones in the 4-hour chart indicate the possible direction of Litecoin.
Medium-Term LTC Analysis
Daily LTC/USD Price ChartWhen examining the daily technical chart of Litecoin, it can be seen that it encountered strong buying reactions from the previously mentioned support zone and initiated an upward trend. As long as the LTC price continues to stay above the level of $89.44, it will aim to move towards the first target of $97.60.
If the LTC price closes above $97.60 on a daily basis, it will seek to continue its upward movement towards the levels of $115. After that, if it achieves closures above $115, the next target will be the level of $132.
As long as Litecoin encounters strong buying reactions from the critical support range of $89.44 – $85.94, there is a possibility to sustain its upward movement from this range to $132. Paying close attention to the specified support and resistance levels will be important for investors.
Short-Term LTC Analysis
When examining the 4-hour technical chart of Litecoin, it can be seen that an upward movement started from the support zone between $88.88 and $85.77, and the price rose to the resistance level of $95.76. If the LTC price maintains its stability above the level of $95.77 with 4-hour candlestick closures, it has the potential to continue its upward movement towards the level of $103.69.
If the Litecoin price achieves closures above the level of $103.69 on a 4-hour basis, we can determine the next target as the level of $110. Litecoin investors can take positions by carefully monitoring the medium-term and short-term support and resistance levels.
However, if the LTC price closes below the level of $88.88 on a 4-hour basis, it can continue its decline to the range between $85.77 and $83.25. However, it is expected to encounter strong buying reactions from this support range.
