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
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
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.
