Litecoin Price Prediction: Could Trigger a Rise to $75?

  • 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

LTCUSDT_2023-08-21_14-30-00

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

LTCUSDT.P_2023-08-21_14-46-31

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Robinhood CEO Discusses Potential Bitcoin Holdings Amid Rising Cryptocurrency Interest

COINOTAG reported on December 24th that Robinhood's CEO, Vladimir...

MicroStrategy Plans Special Shareholder Meeting to Enhance $42 Billion Bitcoin Investment

MicroStrategy, a leader in Bitcoin investments, is gearing up...

James Fickel Reduces ETH Position: $22 Million Sold in Strategic Deleveraging for WBTC

On December 24, COINOTAG News reported a significant shift...

48.2 Billion Yen Bitcoin Theft Linked to North Korean Hacker Group TraderTraitor Amid DMM Bitcoin Investigation

On December 24th, COINOTAG News reported a significant **security...

Aave Proposes Integration of Chainlink’s SVR to Redistribute MEV Profits to Users

In a recent development highlighted on December 24th by...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img