Litecoin (LTC) Price Analysis

Litecoin (LTC) reached a high of $122 on July 23. The uptrend was halted at this level, and the altcoin is currently trading below $120.

Litecoin Price Long-Term Prediction: Bullish

Over the last three days, Litecoin has been trading above the $108 support but below the $120 level. If buyers can break through $120, the altcoin may rise to $134, potentially returning to previous highs of $140 and $147.

Conversely, if LTC falls back below the breakout level and the 21-day SMA support, it may face renewed selling pressure, with a possible decline to $92 or even a low of $88. Currently, Litecoin is trading at $113.

LTC Price Indicators Analysis

The horizontal moving average lines are sloping upwards, indicating an uptrend. The 21-day SMA has crossed above the 50-day SMA, signaling a positive trend. On the 4-hour chart, the moving average lines show a horizontal slope, suggesting a sideways trend.

Technical Indicators

• Resistance Levels: $100, $120, $140
• Support Levels: $60, $40, $20

What is the Next Move for LTC?

Litecoin is edging closer to its historical price of $147. On the 4-hour chart, the altcoin is trading within a narrow range between $108 and $120, still below the crucial barrier. While it has dipped above the $108 mark, it is remains oscillating above it.

The uptrend will persist if the current support is maintained; however, selling pressure may arise below this support.

Disclaimer: This analysis and forecast represent the personal opinions of the author and do not constitute a recommendation to buy or sell cryptocurrency. Readers should conduct their own research before investing.