{"id":168407,"date":"2022-12-15T05:25:53","date_gmt":"2022-12-15T05:25:53","guid":{"rendered":"https:\/\/precoinnews.com\/?p=168407"},"modified":"2022-12-15T05:25:53","modified_gmt":"2022-12-15T05:25:53","slug":"litecoin-ltc-price-analysis-this-key-support-might-spark-fresh-increase","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-this-key-support-might-spark-fresh-increase\/","title":{"rendered":"Litecoin (LTC) Price Analysis: This Key Support Might Spark Fresh Increase"},"content":{"rendered":"
Litecoin price is struggling below $80 against the US Dollar, similar to bitcoin. LTC price could start a decent increase if it gains pace above the $80 level.<\/em><\/p>\n In the past few sessions, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC was able to climb above the $70 and $75 resistance levels.<\/p>\n The bulls even pushed the price above the $80 level. However, they failed to clear the $85 resistance. A high was formed near $84.97 and the price started a fresh decline. There was a steady drop below the $82 and $80 levels. The decline gained pace below the $75 support and the 55 simple moving average (4-hours).<\/p>\n Besides, there was a break below a key bullish trend line with support near $76.40 on the 4-hours chart of the LTC\/USD pair. The pair even traded below the 61.8% Fib retracement level of the upward move from the $71.14 swing low to $84.97 high.<\/p>\n It is now trading below $80 and the 55 simple moving average (4-hours). Moreover, it is testing the 76.4% Fib retracement level of the upward move from the $71.14 swing low to $84.97 high.<\/p>\n On the downside, an immediate support is near the $71.40 level. The next key support is near the $68.50 level. If there is a downside break below the $68.50 support, the price could accelerate lower towards the $60 level in the near term.<\/p>\n On the upside, the price is facing resistance near the $80 zone and the 55 simple moving average (4-hours). The next major resistance sits near the $85 level. A clear move above the $85 level could pump the price towards the $92 level or even $95. The next major resistance could be $100.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is clearly trading below $80 and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it stays above the $68.50 support zone.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is now gaining pace in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is now below the 50 level.<\/p>\n Key Support Levels \u2013 $71.40 and $68.50<\/p>\n Key Resistance Levels \u2013 $80.00 and $85.00.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n