- LTC aims to continue its upward trend above the $103 level on the 2-hour technical chart.
- After reaching the $115 resistance level on the daily technical chart, LTC experienced a 6% decline and fell to $105.55 levels.
- The support and resistance levels of LTC, which are $97.60 – $94.33 range and $115 level, should be carefully monitored by investors.
When Litecoin’s technical analysis is examined, it can be seen that the upward trend continues on the 2-hour chart and certain resistance and support levels are important on the daily chart.
Litecoin Can Restart the Upward Trend from This Area
When Litecoin’s daily technical chart is examined, it can be seen that it experienced a 6% decline and fell to $105.55 levels after reaching the $115 resistance level.
If the LTC price fails to achieve daily candle closes above the mentioned $115 resistance level, it can expand its downward movement towards $102.53 levels. Some Litecoin whales sold LTC to take profits at $115 levels after buying it at $71 levels.
Litecoin whales may wait for the $97.60 – $94.33 support range to buy Litecoin again. When Litecoin’s technical chart is examined, starting the upward movement again after a drop to the $97.60 – $94.33 support can lead to a stronger upward trend.
If the Litecoin price initiates its upward movement from the $97.60 – $94.33 levels by encountering serious buyers, it can set its target as $132. However, if LTC achieves daily candle closes above the $115 level, it can continue its upward movement and reach $132.
Short-Term LTC Price Analysis
2-Hour LTC/USD Price Chart
When Litecoin’s 2-hour technical chart is examined, it can be observed that the upward trend continues. As long as LTC achieves 2-hour candle closes above the $103 level, it will aim to continue its upward trend. However, if LTC achieves candle closes below $103, it can expand its downward movement towards the $96.87 – $93.49 range.
If the LTC price stays above the $103 support level, it can aim to make an upward movement towards the $115 resistance level again. If LTC breaks the $115 resistance and achieves 2-hour candle closes above it, it can advance its upward movement to the $124.44 region.
However, if the LTC price achieves 2-hour candle closes below the $93.49 level, it can continue its downward movement towards $89.90. It is important for LTC investors to carefully monitor the mentioned support and resistance levels.
