- Support and Buying Responses: Litecoin (LTC) price has initiated an upward movement with strong buying responses from the critical support range of $62.12 – $59.25.
- Rises and Resistances: LTC price has surged to $67 but is currently trading near the $65 support level.
- Key Levels to Watch: Pay attention to the support range of $62.12 – $59.25, and also consider daily closes above and below $75.
When examining the recent 2-day technical chart of Litecoin, it can be observed that the price rose from the critical support range of $62.12 – $59.25 with robust buying responses, reaching up to $67. Currently, it is trading around $65. If buying responses continue from the $62.12 – $59.25 support range, there is potential for the price to rise to $75.
Medium-Term LTC Analysis
2-Day LTC/USD Price Chart
Reviewing the recent 2-day technical chart of Litecoin, it is evident that the price rose from the significant support range of $62.12 – $59.25 with strong buying responses, reaching up to $67. Currently, LTC price is trading at $65 and moving near the $62 support.
If LTC price continues to receive strong buying responses from the mentioned $62.12 – $59.25 support range, it could potentially rise to $75, starting from these levels. If LTC price manages daily closes above $75, the next target could be considered at $82.
However, if LTC price surpasses $75 but fails to break resistance and close daily above it, the price could reverse its course and drop back to around $62, starting from $75. It’s crucial for LTC investors to carefully monitor daily closes above $75.
Short-Term LTC Analysis
1-Hour LTC/USD Price Chart
Analyzing the hourly technical chart of Litecoin, it’s evident that the price is supported by buying responses from the $65 level. As long as LTC price maintains hourly closes above $65, there’s a potential for it to rise towards the range of $69.64 – $71.
However, if LTC price registers hourly closes below $65, it could potentially continue the downtrend. If Litecoin closes below $65 hourly, it might experience a decline first towards $63.38 and subsequently to $61.69.
As long as LTC price holds the $65 level, the desire to achieve the targets mentioned in the analysis might persist. It’s advisable for Litecoin investors to carefully track the specified levels.
