The LTC price has decreased by about 25 % in the past two days. This is part of the descending price step of many altcoins. However, there may be a reason for optimism despite this recent decline.
Litecoin is trading at $ 104.84 now. He decreased sharply from more than $ 125, according to The Daily Chart from @ali_charts. Getting close to the main support level at $ 98. This level is often concerned with what is happening after that.
The 98 dollar area has been tested several times before. Buyers usually appear when Litecoin decreases to this price. Ali_charts This support zone is believed to be decisive. If so, we may see buyers return in large numbers.
The possibility of a large crowd
If support remains 98 dollars, Litecoin may rise vigorously. Ali_charts analysis indicates that we may see an LTC test resistance In $ 125 first. After that, it can be pushed towards the upper resistance at $ 135.
This possible increase in current prices to $ 135 will give traders a 50 % profit. The LTC price has shown that it can lead to these types of moves after finding strong support in the past.
Also read: This is a dogecoin scale on the chain hits the ATH, but where does the price of DOGE go after that?
There are risks to watching, though. If Litecoin decreases to less than $ 98, it may decrease to a range of $ 93 to $ 91. Fracture less than $ 91 can increase the sale according to @ali_charts.
Litecoin faces downward pressure now, but the $ 98 support set by @ali_charts can be the basis for strong recovery. Watch this level to see if the LTC continues to fall or jump about $ 135.
Follow us X (twitter)and Coinmarketcap and Binance Square For more daily encryption updates.
Get all our future calls by joining A free telegram group.
We recommend etoro
The community of active users and social features such as news extracts, and chats to obtain specific metal coins available for trading.
A wide range of assets: cryptocurrencies along with other investment products such as stocks and traded investment funds.
Trading copies: It allows users to copy prominent traders trading, for free.
Easy to use: ETORO web platform on the web -based etoro and the mobile application is easy to use and easy to move.
