- Litecoin (LTC) is trading near the support range between $97.60 and $94.
- LTC could initiate a rise with strong buying demand from the $97.60 to $94 support range and potentially reach levels up to $132.
- If LTC can achieve hourly candlestick closes above the $103.69 level, it could steer the rise towards $109.33.
According to Litecoin’s price analysis, LTC is moving within specific support and resistance levels. It is expected that LTC will initiate a rise and progress towards $132 if it receives significant buying demand from the $97.60 to $94 support range.
Medium-Term LTC Analysis
Daily LTC/USD Price Chart
Upon examining Litecoin’s technical chart, it is observed that it is moving within an important support range between $97.60 and $94. If LTC encounters a strong buying response from this support range, it could initiate a rise and potentially reach levels up to $132.
If LTC rises from the $97.60 to $94 support range, the first resistance level would be $105.71. If LTC manages to achieve daily candlestick closes above the $106 level, it may aim to sustain the rise towards $115.
If LTC can achieve daily closes above the $115 level, the next target would be $132. However, for LTC to continue its rise, it needs to witness strong buying responses from the support range of $97.60 to $94 and avoid daily closes below $94.
If LTC achieves daily closes below $94, it could extend the downward movement towards the mentioned support of $89.44. Monitoring the support and resistance zones of LTC is crucial.
Short-Term LTC Analysis
Hourly LTC/USD Price Chart
In Litecoin’s price analysis, if LTC continues to achieve hourly candlestick closes below the $103.69 level, it could expand the downward movement towards the support range of $97.44 to $94.
If LTC encounters strong buying demand from the $97.44 to $94 support range, it may aim to continue the rise towards $124.44. If Litecoin manages to achieve hourly candlestick closes above the $103.69 level, the first target would be $109.33.
If LTC achieves hourly closes above the $109.33 level, it would aim to sustain the rise towards $115. Initiating the upward trend with strong buying demand from the $97.44 to $94 support range holds great importance for Litecoin investors.
