Litecoin Rises Steadily, Holds Above $92

Jan 31, 2023 12:48 // price

Litecoin (LTC) price is rising as a result of a series of falling highs and lows.

Litecoin Price Long-Term Prediction: Bullish

The uptrend has stabilized after breaking out of the $80 resistance level. Litecoin fell after he rose to a high of $97 on January 29th. He was expected to climb to the recent highs of $101 as long as buyers could break the $91 and $92 resistances. Today, the $95 resistance has slowed the uptrend. The altcoin is currently trading in the uptrend zone, so it could continue to move higher. If the bear breaks below his 21-day moving average line, the altcoin will fall to $80 or $75. Meanwhile, buyers are negotiating to keep the price above the $95 resistance level.

litecoin indicator analysis

The cryptocurrency asset continues its upward trend after reaching the 63 level in the 14-period Relative Strength Index. Litecoin is in the positive trend zone, so it has the potential to move higher. The price bar sits above the moving average line that drives the price movement. Cryptocurrencies are volatile despite their upward trend.

LTCUSD (daily chart) - Jan 31.23.jpg

technical indicator

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 has reached a high of $97. Currently, it is declining due to the reversal of recent highs. Altcoin prices fluctuate between $90 and $96. Altcoins develop when current resistance levels are breached.

LTCUSD (4-hour chart) - Jan 31.23.jpg

Disclaimer. This analysis and predictions are the author’s personal opinion and are not endorsements to buy or sell cryptocurrencies and should not be considered endorsements by CoinIdol. Readers should do their own research before investing in any fund. Litecoin Rises Steadily, Holds Above $92

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