- Litecoin (LTC) is moving above the $83 resistance level on the daily chart and closing above this level supports the uptrend.
- If LTC continues to stay above the $83 level, it has the potential to rise up to $88.30 as a target.
- When analyzing LTC’s price chart, the $83 level is considered as support, and a negative close below this level can trigger a downward movement.
LTC’s technical analysis shows that it is moving above the $83 resistance level on the daily chart and continuing the uptrend. Closures above this level support LTC’s progression towards the $88.30 target.
Medium-Term LTC Price Analysis
1D LTC/USD Price Chart
When examining Litecoin‘s daily price chart, as we mentioned in our LTC analysis shared on June 15th, it was stated that it could reach the $83 levels as long as it stays above the $71.59 level.
LTC price has reached the $85 levels today and provided a 14% return for Coinotag readers.
Click here to read the LTC analysis shared on June 15th.
When evaluating Litecoin (LTC) technical chart, it can be observed that LTC continues its movements above the $83 resistance level. If LTC achieves daily candle closes above the $83 level, it can sustain the uptrend up to $88.30.
It is important for LTC to achieve daily candle closes above the $83 level and maintain it as support.
Additionally, if $83 is accepted as support and investors do not allow candle closes below this level, LTC can continue its uptrend up to $100.
When considering LTC’s price chart along with its current resistance levels and support areas, surpassing certain levels can be crucial for LTC.
Short-Term LTC Price Analysis
2 Hour LTC/USD Price Chart
When examining Litecoin’s (LTC) 2-hour price chart, it can be observed that LTC continues its uptrend.
If LTC achieves 2-hour candle closes above the $85.77 level mentioned in the analysis, it can sustain the uptrend up to $89. However, if LTC fails to surpass the $85.77 resistance, it may initiate a downward movement towards the $80.43 support.
The $85.77 level is important to determine LTC’s price direction. If LTC achieves candle closes above the $85.77 level, it indicates its intention to continue the uptrend to investors.
However, if the $85.77 resistance is not broken, LTC may initiate downward movements towards the support areas mentioned in the analysis.
