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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/ltc-price-analysis-ltc-close-to-60-will-bulls-slingshot-to-70/">LTC Price Analysis: LTC Close To $60, Will Bulls Slingshot To $70?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the ongoing negative cycle in a consolidation range, the LTC price remains under high bearish pressure. It is evident by the downfall of 44% in the Litecoin market value before entering the sideways track.&nbsp; 
Despite such an ongoing selling spree, the <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/">LTC price prediction</a> holds a bullish viewpoint in the coming months.&nbsp; 
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Trapped within the tight crucial zones of $60 and $72, the LTC price takes a bearish route to test the bottom support. Moreover, the recent rejection from the 50-day EMA nullifies the possibility of an inverted head and shoulder.&nbsp; 
As the rejection storm declines the chances of a bullish takeover, the falling prices warn of a prolonged correction rally. With a 10% drop in the last 10 days, the Litecoin prices are approaching the crucial $60 mark.&nbsp; 
Currently, the LTC price is trading at $61.33 with an intraday growth of 0.38 percent, highlighting a morning star possibility. This potential reversal can pump the Litecoin value to challenge the 50-day EMA and increase the breakout chances to reach $70.&nbsp; 
Technical indicators: 
RSI indicator: The daily RSI line mimics the downfall following the consolidation range. This resulted in a drop close to the oversold boundary.&nbsp; 
EMA: Keeping the bullish growth in check, the downtrend 50-day EMA is proving to be a dynamic resistance. 
<h2 class="wp-block-heading" id="h-will-ltc-price-sustain-above-60">Will LTC Price Sustain Above $60?</h2> 
Considering the downtrend momentum takes a breather phase, the Litecoin prices may soon slingshot higher. Moreover, with the Bitcoin ETF decision this October, the altcoin may soon experience a sentiment-fueled spike.&nbsp; 
If the Litecoin price exceeds the 50-day exponential moving average, it will create a bullish entry point for traders who have been waiting on the sidelines. In addition, breaking out above the 50-day EMA will put the $70 level in play before targeting the psychological $100 level. 
If the downward trend continues, the price will break through the $60 level and test the bullish dominance at the $50 support level.

LTC Price Analysis: LTC Close To $60, Will Bulls Slingshot To $70?

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