- Litecoin (LTC) experiences a 2% price dip in the last 24 hours, raising concerns among investors.
- On the technical chart, a false breakout near the $69 support level hints at potential bullish momentum.
- Daily charts reveal LTC’s struggle near $68, with the risk of testing support levels around $64-$67.
Litecoin (LTC) has faced a recent setback, with a 2% decline in its price over the past 24 hours. Analyzing the charts, we uncover key levels and potential scenarios that investors should closely monitor.
Based on the technical chart, LTC’s price exhibited a false breakout near the $69 support level. If the price closes near or above the resistance level, it could signal the possibility of a test in the $71-$77 range in the near future, suggesting bullish momentum may be at play.
However, on the daily time frame, the situation appears less optimistic, with LTC’s price hovering near the $67 level. Should buyers lose control and the price drop below the $70 zone, it may lead to a test of crucial support levels, potentially plunging to the $64-$66 range.
Taking a broader perspective on the weekly chart, attention shifts to the closure of the weekly bar concerning the previous bar low. If this closure occurs above $70, it might empower buyers to regain control, offering the potential for a rebound to the $72 mark.
As the Litecoin market grapples with these critical junctures, investors and traders are on high alert, closely monitoring LTC’s performance and anticipating its next move.
