- Litecoin started a downside correction from the $68.40 zone against the US Dollar.
- LTC price is now trading below $65 and the 55 simple moving average (4 hours).
- There was a break below a key bullish trend line with support near $65.00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
- The pair could start a fresh increase if it stays above the $61.75 support.
Litecoin price is correcting gains from $68.40 against the US Dollar, like Bitcoin. LTC price could resume its increase if it remains well supported above the $61.75 level.
Litecoin Price Analysis
In the past few days, there was another decline in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC formed a base above the $57.65 level and started a fresh increase.
There was a clear move above the $62 and $65 resistance levels. The price even climbed above the $66.50 level and the 55 simple moving average (4 hours). However, the bears were active near the $68.40 zone. The recent high was formed near $68.41 and the price started a downside correction.
There was a move below the $65 level. The price traded below the 23.6% Fib retracement level of the upward move from the $57.65 swing low to the $68.41 high.
Besides, there was a break below a key bullish trend line with support near $65.00 on the 4-hour chart of the LTC/USD pair. It is now trading below $65 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $65.00 level.
The next major resistance sits near the $68.40 level. A clear move above the $68.40 level could pump the price toward the $75 level. Any more gains might call for a test of $80.
Immediate support is near the $63 level. The next major support is near the $61.75 zone or the 61.8% Fib retracement level of the upward move from the $57.65 swing low to the $68.41 high. A downside break below the $61.75 support might start a strong decline.
Looking at the chart, Litecoin price is trading below $65 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it stays above the $61.75 support.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now losing pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.
Key Support Levels – $63 and $61.75
Key Resistance Levels – $65.00 and $68.40.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-uptrend-at-risk-below-62/
- :is
- 23
- 40
- 41
- 50
- 65
- 75
- a
- above
- active
- against
- analysis
- and
- Another
- any
- At
- average
- base
- Bears
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- call
- Chart
- clear
- Climbed
- coinbase
- could
- data
- Days
- Decline
- Dollar
- downside
- Earlier
- Ether (ETH)
- Even
- facing
- few
- For
- formed
- fresh
- fresh increase
- from
- Gains
- High
- HOURS
- However
- HTTPS
- if
- in
- Increase
- index
- IT
- ITS
- Key
- Level
- levels
- like
- Line
- Litecoin
- Litecoin (LTC)
- Litecoin (LTC) Price
- Litecoin price
- live
- Live Bitcoin News
- losing
- Low
- LTC
- ltc price
- LTC/USD
- MACD
- major
- max-width
- might
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- pump
- recent
- relative
- relative strength index
- remains
- Resistance
- resume
- retracement
- Ripple
- Risk
- rsi
- Simple
- sits
- start
- started
- strength
- strong
- support
- support levels
- Supported
- Swing
- test
- The
- There.
- to
- toward
- traded
- Trading
- TradingView
- Trend
- Upside
- uptrend
- upward
- us
- US Dollar
- was
- WELL
- were
- with
- zephyrnet