- 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.
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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.
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