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Litecoin (LTC) Could Initiate its Rise from This Level! July 5 LTC Analysis

  • 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

LTCUSDT-1

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

LTCUSDT.P-1

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.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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