- Litecoin (LTC) is moving near an important support level and the $76 level is playing a decisive role.
- If the LTC price makes daily candlestick closes above the $76 level, it has the potential to rise to the $84 levels.
- If the LTC price manages to hold onto the support range of $70 – $66, it can start a new uptrend and raise the price again.
When examining Litecoin’s daily technical chart, it can be seen that it is moving near an important support level and certain price levels play a critical role.
Support Levels and Price Prediction
Daily LTC/USD Price Chart
When examining Litecoin’s daily technical chart, it can be seen that it is moving near an important support level.
If the LTC price makes daily candlestick closes above the $76 level mentioned in the analysis, the uptrend movement may continue up to $84 levels.
However, if LTC makes daily candlestick closes below the $76 level, it may move towards the support range of $70 – $66 as a downside target.
LTC price can start an uptrend movement from the support range of $70 – $66 and continue the uptrend again if it manages to hold onto this range.
Do Indicators Indicate an Uptrend for LTC?
When looking at what the indicators say for LTC, it can be seen that the RSI is moving at the 33 levels on the daily timeframe.
For example, when LTC’s RSI fell to these levels on May 8th, it started a 25% uptrend movement and rose to the $97 levels.
However, if the LTC price cannot make an uptrend movement from the bottom levels of RSI, the downtrend movement can continue up to the 20 levels of RSI.
