- The current price chart of Litecoin shows that it has been on an upward trend for the past 5 days.
- If the LTC price surpasses the resistance level of $93.66, it can continue to rise up to $100.
- If the $93.66 level cannot be broken, LTC may pull back to the $88.22 level with a downward movement.
When examining the current price chart of Litecoin, the importance of the 5-day upward trend and the $93.66 resistance level stands out.
Medium-Term LTC Price Analysis
12 Hour Litecoin Price Chart Source: TradingView
When examining the current price chart of Litecoin, it can be seen that it has been on an upward trend for the past 5 days. If the LTC price closes daily candles above the $93.66 level, it can continue its upward trend and reach up to $100.
However, if the LTC price cannot break the mentioned resistance level of $93.66, it may realize a downward movement towards the $88.22 level.
Therefore, what is important for investors is for LTC to close daily candles above the $93.66 level. In such a case, the probability of the upward trend continuing will be high. However, if the resistance level cannot be surpassed, a downward movement should be expected.
Short-Term Litecoin Price Analysis
30 Minute Litecoin Price Chart Source: TradingView
When examining the short-term price chart of Litecoin, it can be observed that it continues its upward trend in the 30-minute time frame.
If LTC stays above the rising trend line mentioned in the analysis, it can rise up to $97.
However, for Litecoin to reach the $97 level, it must surpass the resistance zone at $93.66 and close daily candles above it.
If the LTC price cannot break the resistance at the $93.66 level, the downward target will be the $90.28 support level shown on the chart.
When the LTC price reaches this support zone, the $89.18 level can be used as a stop-loss level for long positions.
Therefore, what is important for investors is for LTC to continue to stay above the rising trend line and surpass the resistance level. However, if the resistance level cannot be surpassed, support levels and stop-loss strategies should be considered.
