LITECOIN PRICE ANALYSIS & PREDICTION (September 15) – LTC Climbs Close to A Essential Resistance Degree, Will It Flip?

Most prime altcoins have charted notable features on this week, together with Litecoin, which is now trying robust on the day. Whereas it’s displaying indicators of power, the market stays weak on a long-term scale. 

Mirroring Bitcoin’s worth motion over the previous week, Litecoin elevated constantly for days and nearly hit $66.3 at press time, however it could decelerate shopping for because it approaches a vital $68 resistance stage, 

Trying on the each day setup, LTC is at present poised for bullish however this bias stays unsure if the worth will scale by the talked about resistance stage. Nonetheless, a surge by this important stage ought to greenlight a short-term purchase. 

Whereas issues are at present trying constructive, you will need to word that this market continues to be technically surrounded by detrimental sentiments from a mid-term perspective. As a result of this, it will likely be too early to start out contemplating an upward shift regardless of the most recent bullish sign, 

From a technical standpoint, Litecoin continues to be in an accumulation section. The bulls should maintain the stress properly above April’s excessive earlier than we are able to think about a long-term change available in the market construction. For now, there isn’t a room for promoting because the market is beneath the bull’s radar,

LTC’s Key Degree To Watch

If the worth breaks above the talked about essential resistance stage, the following goal for the bulls can be $72, adopted by $77. A push above these resistance ranges may permit shopping for to $84 and $90 very quickly. 

Litecoin at present sits properly above the $60 stage. If the worth nosedive this stage, it could face assist at $55.4 earlier than reclaiming the $49.8 low, examined in August. A collapse by this low may slipped the worth into the $40 vary.

Key Resistance Ranges: $68, $72, $77

Key Assist Ranges: $60, $55.4, $49.8

• Spot Worth: $66.3
• Pattern: Bullish
• Volatility: Excessive

Disclosure: This isn’t buying and selling or funding recommendation. At all times do your analysis earlier than shopping for any cryptocurrency or investing in any companies.

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