Home CryptocurrencyAnalysis Litecoin (LTC) crosses $75 as price of $90; Here are the levels to watch

Litecoin (LTC) crosses $75 as price of $90; Here are the levels to watch

by SuperiorInvest
  • The price of LTC is showing strength as the price bounces off the weekly low of $50 to trend higher, giving the bulls some relief.
  • The price of LTC continues to look strong as bearish market sentiment persists, with things looking uncertain for most traders and investors.
  • LTC price rises high on daily time frame as price moves towards $90 above 50 and 200 Exponential moving averages (EMA)

The price of Litecoin (LTC) has held strongly above $60 and is showing good bullish signs of a move to a high of $90-100 if market conditions remain favorable for prices. With many looking for a big drop in Bitcoin (BTC) price, Bitcoin (BTC) price rebounded from $15,500 as the price rose to a high of $16,500, keeping the bears away as Litecoin (LTC) price gains momentum . Assembly. The price action displayed by Litecoin (LTC) recently has been encouraging compared to many altcoins struggling to survive. The domino effect of the FTX saga and other big investors involved have left the market at a standstill as the market is yet to make any major move after the previous weeks. (Data from Binance)

Litecoin (LTC) price analysis on a weekly chart

The past few days have not been the best for most crypto traders and investors, with many starting to worry about where the market might be headed after so much turbulence in the crypto space as many altcoins struggled to show strength and lost their key support in their bid to survive.

The current uncertainty surrounding the market has resulted in a reluctance on the part of traders and investors to buy altcoins as there is no guarantee that they will head higher anytime soon.

The price of LTC has been an outstanding market performer as prices continue to show submerged strength holding well above $60 despite persistent FUD (fear of uncertainty and doubt). LTC saw its price trading in the $60 area on the weekly chart, but the price rebounded from that area to a rally high of $80, showing some major strength. The price of LTC faced resistance to trade higher into the $90-100 area. LTC price needs to break above $80 for further signs of a rally.

Weekly Resistance at LTC Price – $80.

Weekly support at the price of LTC – 60 USD.

LTC price analysis on a daily (1D) chart

Daily LTC Price Chart | Source: LTCUSDT On Tradingview.com

LTC price remains quite strong on the daily time frame as the price is trading above the $70 support after breaking away nicely from its daily range move and showing some great price action to trend higher towards the $80 area.

If the LTC price breaks and holds above $80, we could see further increases in the LTC price in the $90-100 area; a break below the $70 area would send the price back to the $60 area.

Daily resistance at LTC price – $80.

Daily support at LTC price – $75-70.

Featured Image From zipmex, Charts From Tradingview 

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