Litecoin

Rise

Daily

<ul> 
 <li>Litecoin has started its upward movement with strong buying from the important support level of $80.35.</li> 
 <li>If LTC surpasses the resistance level of $85.77, it has the potential to continue its rise towards $92.16.</li> 
 <li>In a bearish scenario, Litecoin may perform a downward movement towards $77.70 by closing below the level of $79.63.</li> 
</ul> 
Litecoin has risen from the support level of $80.35 with strong buying and is targeting the resistance level of $85.77. However, closing below the level of $79.63 in a bearish scenario indicates a continuation of the downward trend. 
<h2 id="strong-medium-term-ltc-analysis-strong">Medium-Term LTC Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/Can-Litecoin-Rise-to-100-June-29-LTC-Analysis.png"></a> Daily LTC/USD Price Chart 
When examining Litecoin’s daily price chart, it can be observed that it is moving near an important support zone. The nearest support zone is between $81.34 and $79.63. Currently, the Litecoin price is moving at $84.44. 
As long as Litecoin encounters strong buying demand from the support zone of $81.34 to $79.63, it can continue its upward movement towards the $100 levels. The nearest resistance level before reaching the $100 target is set at $93. 
However, if the LTC price closes below the level of $79.63 on a daily basis, it can extend the downward movement towards $77.70. The strongest support level below $77.70 is determined to be $71.25 for Litecoin. 
Short-Term LTC Analysis 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1688072872_569_Can-Litecoin-Rise-to-100-June-29-LTC-Analysis.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134414 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1688072872_569_Can-Litecoin-Rise-to-100-June-29-LTC-Analysis.png" alt="2-Hour LTC/USD Price Chart" width="3190" height="1656"></a> 
2-Hour LTC/USD Price Chart 
When examining Litecoin’s short-term price chart, it can be observed that it encountered strong buying from the important support level of $80.35 and thus continued its upward movement towards the $85 levels. 
If the LTC price closes above the mentioned resistance level of $85.77 on a 2-hour basis and maintains stability at this level, it can continue its upward movement towards $92.16. 
In addition, if the LTC price closes above the $93 level on a 2-hour basis, it can continue its rise towards $96. However, if Litecoin fails to break the resistance level of $85.77, it can extend the downward movement towards $80.40. The specified important support and resistance levels of LTC should be closely monitored. 
The post <a rel="nofollow" href="https://en.coinotag.com/can-litecoin-rise-to-100-june-29-ltc-analysis/">Can Litecoin Rise to $100? June 29 LTC Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.

Can Litecoin Rise to $100? June 29 LTC Analysis

Table of Contents

CO NEWS

Other articles published on Jun 29, 2023

🗒 Daily Newsletter | Thursday, June 29, 2023

HODL: The All-in-One Passive Income Platform Revolutionizing DeFi

Biden Hints at Crypto Regulation in Latest Speech

The Crisis of Traditional Finance: The Silent Rise of Minimalism

DeFi Protocol AlloyX Closes $2 Million Pre-Seed Round with Circle Ventures Involved

Bitcoin (BTC) Can Reach $310,000 If This Happens: Willy Woo

Join our free newsletter for daily crypto updates!