- If there are candlestick closures above $61.36, the first target of Litecoin will be $65.
- If there are candlestick closures below $61.36, the first target will be $55.
- Although the decline is up to the range of $50.50 – $47.43, it has the potential to rise from a strong support zone.
We have provided the answers to questions such as from which value range LTC can start its rise after a decline, which values it may want to test in case of a decline, and at which price it needs to make closures for an increase.
LTC ANALYSIS ON DAILY CHART
Daily LTC/USD Price ChartWhen we examine the previous structures, it seems that the structure that functions as support and resistance has started the downward movement by acting as resistance before the last sharp decline. If we see daily candlestick closures above the $61.36 level, the rise can continue up to the $65 value initially. As long as it stays above the $65 level, it can rise up to the resistance zone between $68.91 and $71.
If we see candlestick closures below $61.36, we can test the $55 level initially. If we see candlestick closures below $55, it is possible to see a decline down to the strong support zone of $50.50 – $47.43.
LTC ANALYSIS ON WEEKLY CHART
LTC, which experiences sharp declines, is moving towards the support zone and has the possibility to start a rise as long as it stays above $55. If it stays above $55, LTC may want to make its first rise to the $71 level and then to the range of $87.35 – $96. If we see closures above this zone, it can test the $114.91 level.
If we see weekly closures below $55, it can be anticipated that LTC may find strong buying opportunities and make a rise from the strong support zone of $48.18 – $42.50. If there is a breakthrough and closures below the support zone, a decline down to the $35.15 value can be expected.
