{"id":23678,"date":"2023-05-10T04:52:37","date_gmt":"2023-05-10T08:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23678"},"modified":"2023-05-10T04:52:37","modified_gmt":"2023-05-10T08:52:37","slug":"litecoin-price-prediction-ltc-recovery-at-clear-risk-on-two-factors","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/10\/litecoin-price-prediction-ltc-recovery-at-clear-risk-on-two-factors\/","title":{"rendered":"Litecoin Price Prediction: LTC Recovery at Clear Risk on Two Factors"},"content":{"rendered":"

Litecoin price is attempting a recovery wave from $75 against the US Dollar. LTC could struggle to clear $82 or $85 and might start another decline.<\/em><\/p>\n

Litecoin is slowly moving higher and correcting toward $82 against the US Dollar.
\nThe price is now trading above $85 and the 100 simple moving average (4 hours).
\nThere was a break below a key rising channel with support near $86 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could face a strong resistance near $82 and $85 levels.<\/p>\n

Litecoin Price Remains In Downtrend<\/h2>\n

This past week, Litecoin\u2019s price struggled near the $90 resistance against the US Dollar. LTC price started a fresh decline and traded below the $85 support, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Besides, there was a break below a key rising channel with support near $86 on the 4-hour chart of the LTC\/USD pair. The pair traded below the $80 support level. A low is formed near $75.26 and the price is now attempting a recovery wave.<\/p>\n

LTC is now trading above $85 and the 100 simple moving average (4 hours). The price managed to climb above the 23.6% Fib retracement level of the downward move from the $89.13 swing high to the $75.26 low.<\/p>\n

On the upside, immediate resistance is near the $82 zone. It is close to the 50% Fib retracement level of the downward move from the $89.13 swing high to the $75.26 low. The next major resistance is near the $85 level. If there is a clear break above the $85 resistance, the price could start another strong increase.<\/p>\n

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

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

In the stated case, the price is likely to continue higher toward the $90 and $92 levels. Any more gains might send LTC\u2019s price toward the $100 resistance zone.<\/p>\n

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

If Litecoin price fails to clear the $82 resistance level, there could be a fresh decline. Initial support on the downside is near the $78 level.<\/p>\n

The next major support is forming near the $75 level, below which there is a risk of a move toward the $72 support. Any further losses may perhaps send the price toward the $65 support.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $78.00 followed by $75.00.<\/p>\n

Major Resistance Levels \u2013 $82.00 and $85.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Litecoin price is attempting a recovery wave from $75 against the US Dollar. LTC could struggle to clear $82 or $85 and might start another decline.<\/em><\/p>\n

Litecoin is slowly moving higher and correcting toward $82 against the US Dollar.
\nThe price is now trading above $85 and the 100 simple moving average (4 hours).
\nThere was a break below a key rising channel with support near $86 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could face a strong resistance near $82 and $85 levels.<\/p>\n

Litecoin Price Remains In Downtrend<\/h2>\n

This past week, Litecoin\u2019s price struggled near the $90 resistance against the US Dollar. LTC price started a fresh decline and traded below the $85 support, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Besides, there was a break below a key rising channel with support near $86 on the 4-hour chart of the LTC\/USD pair. The pair traded below the $80 support level. A low is formed near $75.26 and the price is now attempting a recovery wave.<\/p>\n

LTC is now trading above $85 and the 100 simple moving average (4 hours). The price managed to climb above the 23.6% Fib retracement level of the downward move from the $89.13 swing high to the $75.26 low.<\/p>\n

On the upside, immediate resistance is near the $82 zone. It is close to the 50% Fib retracement level of the downward move from the $89.13 swing high to the $75.26 low. The next major resistance is near the $85 level. If there is a clear break above the $85 resistance, the price could start another strong increase.<\/p>\n

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

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

In the stated case, the price is likely to continue higher toward the $90 and $92 levels. Any more gains might send LTC\u2019s price toward the $100 resistance zone.<\/p>\n

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

If Litecoin price fails to clear the $82 resistance level, there could be a fresh decline. Initial support on the downside is near the $78 level.<\/p>\n

The next major support is forming near the $75 level, below which there is a risk of a move toward the $72 support. Any further losses may perhaps send the price toward the $65 support.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $78.00 followed by $75.00.<\/p>\n

Major Resistance Levels \u2013 $82.00 and $85.00.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-23678","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\/23678","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=23678"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23678\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23678"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}