{"id":28477,"date":"2023-08-21T04:52:53","date_gmt":"2023-08-21T08:52:53","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28477"},"modified":"2023-08-21T04:52:53","modified_gmt":"2023-08-21T08:52:53","slug":"litecoin-price-prediction-ltc-faces-uphill-task-near-70","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/21\/litecoin-price-prediction-ltc-faces-uphill-task-near-70\/","title":{"rendered":"Litecoin Price Prediction: LTC Faces Uphill Task Near $70"},"content":{"rendered":"

Litecoin price declined heavily below $80 and $70 against the US Dollar. LTC is attempting a recovery wave but upsides might be limited above $70.<\/em><\/p>\n

Litecoin is correcting losses from the $56 support zone 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 $66.00 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could recover above $66 but the bears might remain active near $70.<\/p>\n

Litecoin Price Starts Recovery<\/h2>\n

This past week, there was a sharp decline in Bitcoin<\/a>, Ethereum<\/a>, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $85 before it started a fresh decline.<\/p>\n

There was a sharp decline below $80 and $70. The price even declined below $60. It traded as low as $55.78 and recently started an upside correction. There was a minor increase above the $60 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low.<\/p>\n

Litecoin is now trading below $70 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $66.00 on the 4-hour chart of the LTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $66 zone. The next major resistance is near the $70 level. It is close to the 50% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low. If there is a clear break above the $70 resistance, the price could start another strong increase.<\/p>\n\n

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

In the stated case, the price is likely to continue higher toward the $75 and $78 levels. Any more gains might send LTC\u2019s price toward the $85 resistance zone.<\/p>\n

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

If Litecoin price fails to clear the $70 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.50 level.<\/p>\n

The next major support is forming near the $60 level, below which there is a risk of a move toward the $56.00 support. Any further losses may perhaps send the price toward the $52 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 still below the 50 level.<\/p>\n

Major Support Levels \u2013 $63.50 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $66.00 and $70.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Litecoin price declined heavily below $80 and $70 against the US Dollar. LTC is attempting a recovery wave but upsides might be limited above $70.<\/em><\/p>\n

Litecoin is correcting losses from the $56 support zone 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 $66.00 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could recover above $66 but the bears might remain active near $70.<\/p>\n

Litecoin Price Starts Recovery<\/h2>\n

This past week, there was a sharp decline in Bitcoin<\/a>, Ethereum<\/a>, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $85 before it started a fresh decline.<\/p>\n

There was a sharp decline below $80 and $70. The price even declined below $60. It traded as low as $55.78 and recently started an upside correction. There was a minor increase above the $60 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low.<\/p>\n

Litecoin is now trading below $70 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $66.00 on the 4-hour chart of the LTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $66 zone. The next major resistance is near the $70 level. It is close to the 50% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low. If there is a clear break above the $70 resistance, the price could start another strong increase.<\/p>\n

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

In the stated case, the price is likely to continue higher toward the $75 and $78 levels. Any more gains might send LTC\u2019s price toward the $85 resistance zone.<\/p>\n

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

If Litecoin price fails to clear the $70 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.50 level.<\/p>\n

The next major support is forming near the $60 level, below which there is a risk of a move toward the $56.00 support. Any further losses may perhaps send the price toward the $52 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 still below the 50 level.<\/p>\n

Major Support Levels \u2013 $63.50 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $66.00 and $70.00.<\/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-28477","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\/28477","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=28477"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28477\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}