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Litecoin Price Prediction: Will it Rise to $75? August 24 LTC Analysis

  • Litecoin is moving above the $64 support level on the hourly chart.
  • Hourly closes above $64 create upward potential: $66, $67.50.
  • If LTC closes above $67.50, it could have a target of $70.

Litecoin is showing upward potential by trading above the $64 support level. Hourly closes above $64 highlight targets such as $66 and $67.50. Daily closes above $67.50 could extend the upward trend to $70, otherwise the $63 and $61.69 supports become important.

Medium-Term LTC Analysis

2-Day LTC/USD Price Chart
2-Day LTC/USD Price Chart

When examining the technical chart of Litecoin for the past two days, it is observed that it has been moving horizontally above the support range of $62 – $59. Today, LTC price experienced a 1.52% decrease and was trading at $64.64 at the time of writing.

If Litecoin continues to maintain its daily closes above the mentioned support range in the analysis, it has the potential to continue the upward trend. In this case, the price can rise up to the $75 level, indicated by the blue line, with support from this range.

However, if Litecoin makes daily closes below the $59 level, it can expand the downward trend to $53. On the other hand, if the LTC price successfully makes daily closes above the $67 level, it can continue the upward movement by breaking the resistance level at $75.

Short-Term LTC Analysis

1-Hour LTC/USD Price Chart
1-Hour LTC/USD Price Chart

When examining the hourly technical chart of Litecoin, it is observed that the price is moving above the $64 support level. As long as LTC continues its hourly closes above $64, it has the potential to move the upward trend to the $66 level first and then to the $67.50 level.

If the LTC price continues its hourly closes above $67.50, the next target of $70, as mentioned in the analysis, can be observed. However, if Litecoin makes hourly closes below the $64 support level, it can expand the downward movement to the $63 level first and then to the $61.69 level.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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