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Litecoin (LTC) Price Analysis: Upside Break Above $265 Seems Likely

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  • Litecoin price is showing positive above the $210 support level against the US Dollar.
  • LTC price is now trading well above the $240 level and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $250 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair is likely to continue higher if there is a clear break above $265.

Litecoin price is showing bullish signs above $240 against the US Dollar, similar to bitcoin. LTC price is likely to accelerate higher above the $265 resistance zone.

Litecoin Price Analysis

This week, there was a decent increase in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the $210 and $215 levels.

The bulls came into action and the price started a decent increase above the $220 and $230 levels. There was a break above the 23.6% Fib retracement level of the key decline from the $336 swing high to $206 low.

There was also a break above a key bearish trend line with resistance near $250 on the 4-hours chart of the LTC/USD pair. The pair gained pace above the $250 level. It is now trading well above the $240 level and the 55 simple moving average (4-hours).

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The pair is now facing resistance is near the $260 level and a connecting bearish trend line. The next major resistance is near the $270 level.

The 50% Fib retracement level of the key decline from the $336 swing high to $206 low is also near the $270 level. A successful break above the $260 and $270 resistance levels. The next major resistance is near the $300 level, above which the price is likely to accelerate higher towards the $325 and $335 levels.

If there is a downside correction, the price is likely to find bids near the $250 level. If there is a downside break below the $250 level and the 55 simple moving average (4-hours), the price could accelerate lower towards the $240 support. Any more losses could lead the price towards the $220 support zone.

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Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is now trading nicely above $240 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if there is a clear break above $265.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly losing pace in the bullish zone.

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4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is still above the 50 level.

Key Support Levels – $240 and $220.

Key Resistance Levels – $260 and $270.

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Litecoin

Litecoin Forecast and Analysis October 25 — 29, 2021

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Litecoin LTC/USD ends the trading week at 198.73 and continues to move within the growth and bullish channel, but now there is a rebound after updating the local maximum. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upwards. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 145.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 305.05.

Litecoin Forecast and Analysis October 25 — 29, 2021

An additional signal in favor of raising the LTC/USD quotes in the current trading week October 25 — 29, 2021 will be a test of the support line on the relative strength index (RSI). Now the values ​​of the RSI indicator have risen to the level of 70, therefore, there may be a fall before the continuation of the growth of the coin quotes. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the 95.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 45.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 255.05.

Litecoin Forecast and Analysis October 25 — 29, 2021

Litecoin Forecast and Analysis October 25 — 29, 2021 implies an attempt to test the support area near the level of 145.05. Then, continued growth to the area above the level of 305.05. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 95.05 area. This will indicate a continued decline in cryptocurrency with a target below 45.05.

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Litecoin Forecast and LTC/USD Analysis October 22, 2021

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LTC/USD are traded at the level of 204.04 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $13,333,492,930. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.55. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 245.55.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​170.55. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.55. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

Litecoin Forecast and LTC/USD Analysis October 22, 2021 suggests an attempt to correct and test the support area near the level of 190.55. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 245.55. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 170.55 area. This will indicate a continued fall in the cryptocurrency with a target below 135.55.

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Litecoin Forecast and LTC/USD Analysis October 21, 2021

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LTC/USD are trading at 198.05 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,182,763,662. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.05. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​165.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 125.05. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

Litecoin Forecast and LTC/USD Analysis October 21, 2021 suggests an attempt to correct and test the support area near the level of 190.05. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 165.05 area. This will indicate a continued fall in the cryptocurrency with a target below the level of 125.05.

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