- 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
Daily LTC/USD Price Chart
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.
