- The 4-hour chart of LTC emphasizes the significance of $64 as a key support level.
- If LTC manages to close 4-hour candles above $64, it could extend its rise towards $67.
- The 2-day chart of LTC indicates that it continues to close above $62.12.
In summary, the short-term performance of LTC seems to depend on whether it closes above or below $64. It is recommended that investors closely monitor these levels.
MEDIUM-TERM LTC ANALYSIS
Litecoin’s (LTC) 2-day technical chart shows that it continues to close above the $62.12 level. To reach $82, LTC needs to break the $68.36 resistance.
If LTC surpasses the $68.36 resistance, it can extend its rally to $75.20 and then $81.77.
However, if the $68.36 resistance is not breached, the downward movement may continue towards the critical support level at $62.12. If Litecoin closes below $62, it could deepen its decline to $59.25.
Litecoin’s (LTC) Short-Term Analysis
When looking at the 4-hour technical chart for Litecoin (LTC), it is observed that the $64 level is a significant support. As long as LTC continues to close 4-hour candles above this level, it may aim to sustain its uptrend, primarily targeting the $67 level.
If the LTC price manages to close 4-hour candles above $67, the next upward target could be around $69.64. However, if LTC fails to surpass the $67 resistance and closes 4-hour candles below $64, it might consider extending its downward trend towards the $62.78 level.
Therefore, LTC investors should pay close attention, especially to 4-hour candle closes below $64.
