{"id":14748,"date":"2022-12-26T06:52:45","date_gmt":"2022-12-26T10:52:45","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14748"},"modified":"2022-12-26T06:52:45","modified_gmt":"2022-12-26T10:52:45","slug":"litecoin-price-prediction-this-resistance-could-trigger-new-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/26\/litecoin-price-prediction-this-resistance-could-trigger-new-rally\/","title":{"rendered":"Litecoin Price Prediction: This Resistance Could Trigger New Rally"},"content":{"rendered":"

Litecoin price remained well bid above the $60 support zone against the US Dollar. LTC is rising and might attempt a fresh rally above the $70 level.<\/em><\/p>\n

Litecoin started a fresh decline below $80 support against the US Dollar.
\nThe price is now trading below $70 and the 100 simple moving average (4-hours).
\nThere is a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could start a decent increase if there is a clear move above the $72 resistance.<\/p>\n

Litecoin Price Eyes Upside Break<\/h2>\n

Earlier this month, litecoin price saw a steady decline from well above the $80 level against the US Dollar. LTC price declined below the $75 support zone to move into a bearish zone, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

The price gained pace below the $70 support and the 100 simple moving average (4-hours). A low was formed near $61.02 and the price is now attempting a recovery wave. There was a decent upside correction above the $63 and $65 levels.<\/p>\n

There was a move above the 23.6% Fib retracement level of the key decline from the $79.80 swing high to $61.02 low. The price is now trading near the $70 resistance and 100 simple moving average (4-hours).<\/p>\n

On the upside, an immediate resistance is near the $70.00 level. There is also a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC\/USD pair. The trend line is near the 50% Fib retracement level of the key decline from the $79.80 swing high to $61.02 low.<\/p>\n

<\/a><\/p>\n

Source: LTCUSD on TradingView.com<\/a><\/p>\n

If there is a clear break above the $70.50 resistance, the price could start a strong increase. In the stated case, the price is likely to continue higher towards the $72 and $75 levels. Any more gains might send ltc price towards the $80 resistance zone.<\/p>\n

Fresh Decline in LTC?<\/h2>\n

If Litecoin price fails to clear the $70.00 resistance level, there could be a fresh decline. An initial support on the downside is near the $65.50 level.<\/p>\n

The first major support is forming near the $64.00 level. Any further losses may perhaps send the price towards the $60.00 support in the coming sessions.<\/p>\n

Technical indicators:<\/p>\n

4-hours MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $65.50 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $70.00 and $75.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Litecoin price remained well bid above the $60 support zone against the US Dollar. LTC is rising and might attempt a fresh rally above the $70 level.<\/em><\/p>\n

Litecoin started a fresh decline below $80 support against the US Dollar.
\nThe price is now trading below $70 and the 100 simple moving average (4-hours).
\nThere is a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could start a decent increase if there is a clear move above the $72 resistance.<\/p>\n

Litecoin Price Eyes Upside Break<\/h2>\n

Earlier this month, litecoin price saw a steady decline from well above the $80 level against the US Dollar. LTC price declined below the $75 support zone to move into a bearish zone, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

The price gained pace below the $70 support and the 100 simple moving average (4-hours). A low was formed near $61.02 and the price is now attempting a recovery wave. There was a decent upside correction above the $63 and $65 levels.<\/p>\n

There was a move above the 23.6% Fib retracement level of the key decline from the $79.80 swing high to $61.02 low. The price is now trading near the $70 resistance and 100 simple moving average (4-hours).<\/p>\n

On the upside, an immediate resistance is near the $70.00 level. There is also a key bearish trend line forming with resistance near $70.50 on the 4-hours chart of the LTC\/USD pair. The trend line is near the 50% Fib retracement level of the key decline from the $79.80 swing high to $61.02 low.<\/p>\n

<\/a><\/p>\n

Source: LTCUSD on TradingView.com<\/a><\/p>\n

If there is a clear break above the $70.50 resistance, the price could start a strong increase. In the stated case, the price is likely to continue higher towards the $72 and $75 levels. Any more gains might send ltc price towards the $80 resistance zone.<\/p>\n

Fresh Decline in LTC?<\/h2>\n

If Litecoin price fails to clear the $70.00 resistance level, there could be a fresh decline. An initial support on the downside is near the $65.50 level.<\/p>\n

The first major support is forming near the $64.00 level. Any further losses may perhaps send the price towards the $60.00 support in the coming sessions.<\/p>\n

Technical indicators:<\/p>\n

4-hours MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $65.50 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $70.00 and $75.00.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-14748","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=14748"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14748\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14748"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}