Generative Data Intelligence

Litecoin Rises Steadily And Holds Above $92


Jan 31, 2023 at 12:48 // Price

The price of Litecoin fluctuates between $90 and $96

Litecoin (LTC) prices are rising as a result of a series of higher highs and lower lows.

Long-term forecast for the Litecoin price: bullish

The upward movement has been steady since breaking above the $80 resistance level. Litecoin rose to a high of $97 on Jan. 29 before falling back. As long as buyers were able to break through resistance at $91 and $92, the recent rise to a high of $101 was predicted. Today, resistance at $95 has slowed down the uptrend. The altcoin could continue to rise as it is now trading in the uptrend zone. If the bears break below the 21-day moving average line, the altcoin will fall to a low of $80 or $75. Buyers are haggling to keep the price above the $95 resistance level in the meantime. 

Litecoin indicator analysis

The cryptocurrency asset has maintained its uptrend after reaching the 63 level in the Relative Strength Index for the 14 period. Litecoin could rise as it is in a positive trend zone. The price bars are above the moving average lines that drive the price movement. The cryptocurrency has been volatile despite its uptrend.

LTCUSD(Daily Chart) - January 31.23.jpg

Technical indicators

Resistance levels: $140, $180, $220

Support levels: $100, $60, $20

What is the next step for Litecoin?

The value of the cryptocurrency is on the rise and reached a high of $97. Currently, it is falling due to the rejection of the recent high. The price of the altcoin fluctuates between $90 and $96. The altcoin will develop when the current resistance level is broken.

LTCUSD(4 Hour Chart) - January 31.23.jpg

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.


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