Based

Litecoin

Rise

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/ltc-price-analysis-with-bullish-preparations-ltc-eyes-100/">LTC Price Analysis: With Bullish Preparations, LTC Eyes $100!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Moving sideways with a bearish influence, the LTC price struggles to rise above the $68 supply zone. Despite multiple attempts, the recovery trend has reversed from $68 over the past few weeks.&nbsp; 
Nevertheless, the LTC price trend prepares a bullish pattern to reclaim the positive trend momentum.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-1024x463.png" alt="" class="wp-image-231612" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/21120355/LTCUSD_2023-09-21_11-27-27.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
With hawkish comments from Fed’s Powell, the market took a hit yesterday, driving altcoins lower. Making a bearish engulfing candle at $68, the LTC price fell 4.09% yesterday, reflecting strong supply overhead. Moreover, the opposition from the 50-day EMA close to $68 provides additional resistance.&nbsp; 
The Litecoin price trades at $64.26, and a Doji candle forms today. Looking at the previous price action, an inverted head and shoulder pattern seems possible. If the LTC price reverses from $61-$60 to rechallenge the overhead supply zone and form a bullish pattern. 
Moreover, the ongoing 12% recovery rally from $55.79, avoiding a drop to $50, projects solid bullish sentiment.&nbsp; 
Based on the technical indicators, the MACD and RSI show signs of a recovery. The RSI line has risen above the halfway point, Further, the MACD indicator shows a positive alignment with bullish histograms. 
<h2 class="wp-block-heading" id="h-will-ltc-price-rise-to-100">Will LTC Price Rise To $100?</h2> 
If the LTC price completes the bullish pattern, the $68 breakout is a must to spark the uptrend. Considering the breakout occurs, the Litecoin price can face opposition at the $80 milestone before reaching the $100 mark.&nbsp; 
On the flip side, if the downtrend continues, it will break through the $60 zone and test the bullish dominance at the $50 demand level.

LTC Price Analysis: With Bullish Preparations, LTC Eyes $100!

Tabla de contenidos

CoinPedia News

Otros artículos publicados el 21 sept 2023

Polkadot's 1.41% Price Dip to $4.04: Key Insights for Traders

Cryptography in Cryptocurrencies: A Simplified Guide – Part 2

stake.link launches new Chainlink staking program features

Binance wallet spends almost $1M in ETH gas fees in one day

Pancakeswap integrates Transak for fiat onboarding on multiple chains

XRP Ledger Just Set Brand New Record: Details

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!