Litecoin Could Be Preparing for a 20% Rise! Current LTC Analysis

  • LTC price has declined, but it rose with support from Bitcoin.
  • Resistance and support levels on the daily chart are crucial for LTC.
  • LTC has potential for short-term and medium-term gains.

Will Litecoin continue its upward trend? What should LTC investors expect? What are the targets in the current LTC analysis?

MEDIUM-TERM LTC ANALYSIS

Daily LTC/USD Analysis

Analyzing Litecoin’s daily chart, today LTC began its rise after dropping to $75.77, boosted by Bitcoin, and reached levels up to $82.20. The price of LTC is currently moving at $81.39.

In LTC’s analysis, if daily candles close above the $82.85 resistance, it can continue its upward trend. LTC can maintain its daily upward trend to $94.60 levels as long as it keeps the $82.85 support.

For long-term spot investments in Litecoin, a daily candle close above the $82.85 level is expected. As long as LTC stays above $77.80 in the medium term, it is expected to continue rising.

SHORT-TERM LTC ANALYSIS

2-Hour LTC/USD Price Chart

From the 2-hour technical chart of Litecoin, as long as LTC closes candles above the gray area shown in the chart, it will want to continue its upward movement.

If LTC price falls to the $80.52 – $79.62 areas in the coming hours, staggered long trades can be considered. The $77.43 level should be monitored as a stop for these long trades.

As long as Litecoin’s price stays above the gray support zone, its first upward target will be $82.89, followed by $86.45. If LTC closes 4-hour candles above $86.45, the next target will be $91.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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