{"id":30698,"date":"2023-10-09T05:52:50","date_gmt":"2023-10-09T09:52:50","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30698"},"modified":"2023-10-09T05:52:50","modified_gmt":"2023-10-09T09:52:50","slug":"litecoin-price-prediction-ltc-could-retest-60-before-fresh-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/09\/litecoin-price-prediction-ltc-could-retest-60-before-fresh-surge\/","title":{"rendered":"Litecoin Price Prediction: LTC Could Retest $60 Before Fresh Surge"},"content":{"rendered":"

Litecoin price is struggling to gain pace above $66.40 against the US Dollar. LTC could revisit the $60 support before the bulls take a strong stand.<\/em><\/p>\n

Litecoin is correcting losses from the $63 support zone against the US Dollar.
\nThe price is now trading below $66 and the 100 simple moving average (4 hours).
\nThere is a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could drop toward the $60 support before it starts a fresh increase.<\/p>\n

Litecoin Price Signals Bearish Move<\/h2>\n

This past week, there was a fresh decline in Bitcoin<\/a>, Ethereum<\/a>, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $68.40 before it started a fresh decline.<\/p>\n

The price traded below the $66.40 and $65.00 support levels. It retested the $63.00 support zone. A low was formed near $63.01 and the price is now attempting a fresh increase. There was a move above the $65.20 resistance.<\/p>\n

The price spiked above the 50% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. Litecoin is now trading below $66 and the 100 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $65.50 zone. The next major resistance is near the $6.40 level. It is close to the 61.8% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. If there is a clear break above the $66.40 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 $68.40 and $70 levels. Any more gains might send LTC\u2019s price toward the $75 resistance zone.<\/p>\n

Downside Thrust in LTC?<\/h2>\n

If Litecoin price fails to clear the $66.40 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.00 level.<\/p>\n

The next major support is forming near the $60 level, below which there is a risk of a move toward the $58.00 support. Any further losses may perhaps send the price toward the $55 support.<\/p>\n

Technical indicators:<\/p>\n

4-hour MACD \u2013 The MACD is now losing 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 $63.00 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $66.40 and $68.40.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Litecoin price is struggling to gain pace above $66.40 against the US Dollar. LTC could revisit the $60 support before the bulls take a strong stand.<\/em><\/p>\n

Litecoin is correcting losses from the $63 support zone against the US Dollar.
\nThe price is now trading below $66 and the 100 simple moving average (4 hours).
\nThere is a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could drop toward the $60 support before it starts a fresh increase.<\/p>\n

Litecoin Price Signals Bearish Move<\/h2>\n

This past week, there was a fresh decline in Bitcoin<\/a>, Ethereum<\/a>, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $68.40 before it started a fresh decline.<\/p>\n

The price traded below the $66.40 and $65.00 support levels. It retested the $63.00 support zone. A low was formed near $63.01 and the price is now attempting a fresh increase. There was a move above the $65.20 resistance.<\/p>\n

The price spiked above the 50% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. Litecoin is now trading below $66 and the 100 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $65.50 zone. The next major resistance is near the $6.40 level. It is close to the 61.8% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. If there is a clear break above the $66.40 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 $68.40 and $70 levels. Any more gains might send LTC\u2019s price toward the $75 resistance zone.<\/p>\n

Downside Thrust in LTC?<\/h2>\n

If Litecoin price fails to clear the $66.40 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.00 level.<\/p>\n

The next major support is forming near the $60 level, below which there is a risk of a move toward the $58.00 support. Any further losses may perhaps send the price toward the $55 support.<\/p>\n

Technical indicators:<\/p>\n

4-hour MACD \u2013 The MACD is now losing 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 $63.00 followed by $60.00.<\/p>\n

Major Resistance Levels \u2013 $66.40 and $68.40.<\/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-30698","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\/30698","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=30698"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30698\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30698"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}