Will Litecoin Continue its Rising Trend? Current LTC Analysis!

  • If LTC can close 4-hour candles above the level of $95.58, it may initiate an upward trend towards the target of $100.
  • However, if it fails to close daily above the resistance level of $93.66, LTC may extend its decline to the level of $89.
  • Investors may expect strong buying above the support level of $89.29.

Litecoin’s current price chart shows the impact of certain levels. For Litecoin to continue its upward trend, it needs to surpass certain resistances; otherwise, the downward trend may strengthen.

Short-Term LTC Analysis

4 Hour LTC/USD Price Chart

When we examine Litecoin’s 4-hour price chart, we observe horizontal movements in the specified resistance zone.

LTC price may continue its downward trend towards the range of $91.21 – $89.29 unless it manages to close 4-hour candles above the level of $95.58.

However, if Litecoin is supported by strong buying from the specified support zone and stays above the level of $89.29, it may initiate an upward trend from this level towards the $100 levels.

If LTC starts to rise without falling to the specified support zone and manages to close 4-hour candles above the level of $95.58, it will have initiated an upward trend towards the $100 levels.

Medium-Term LTC Price Analysis

8 Hour LTC/USD Chart

8 Hour LTC/USD Chart

When we examine Litecoin’s medium-term price chart, we see that it initiated an upward movement from the spot buying zone we shared in our analysis on May 23 and provided our readers with a 15% gain.

When we examine Litecoin’s current price chart, we see that it is struggling to surpass the resistance zone of $93.66.

However, if LTC price fails to close daily above the level of $93.66, it may continue its downward movement towards the level of $89.

However, if Litecoin manages to stay above the level of $93.66, it may continue its upward trend towards the range of $100 – $102.

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

BREAKING NEWS

Hyper Tops Total Profit List with $11.61M Long BTC Positions Completed

Hyper, currently ranked first on the total profit leaderboard,...

Hyper Builds Massive $11.17M Long Position in BTC, Leading Total Profit Rankings

Hyper, leading the total profit rankings, is strategically accumulating...

Hyper Reduces ETH Long Position by $6.25M Despite Leading Total Profit Rankings

Hyper, currently leading the total profit rankings, has strategically...

BTC Transaction Drop Signals Potential Crisis in Memory Pool Analysis

The Bitcoin mempool transaction volume has experienced a notable...

Bitcoin Short Liquidations Could Hit $156M if Price Surpasses $110,000, Coinglass Data Reveals

According to Coinglass data on July 6th, Bitcoin faces...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img