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Litecoin: Despite Instability, Analysts Expect LTC to Surge as Halving Fast Approaches

Litecoin

Bitcoin has been leading most major altcoins, like Ethereum, Litecoin, and XRP, on a wild rise as of late, starting with its recent drop to $9,100, which was quickly followed by a surge towards $11,000 that subsequently resulted in a drop towards $10,000.

Although Litecoin has been closely tracking Bitcoin’s price action, analysts are now noting that there is a decent chance that the cryptocurrency begins surging in the near future, which may be fueled by its upcoming mining rewards halving.

Litecoin Drops Towards $90, But Technical Strength Grows 

At the time of writing, Litecoin is trading down nearly 5% at its current price of $93, which is down slightly from its 24-hour highs of over $100.

While zooming out and looking at Litecoin’s price action over a seven-day trading period, it is clear as to just how much volatility it has been incurring as of late, as it is currently trading up from lows of under $78 that were set when Bitcoin dropped to $9,100.

Importantly, LTC’s climb from these lows has allowed it to form what is widely viewed as a bullish technical formation, which, in combination with its upcoming mining rewards halving, could signal that a price rally is imminent.

The Wolf of All Streets, a popular analyst on Twitter, spoke about Litecoin’s potential bullishness in a recent tweet, noting that it is currently forming a bull pennant.

“$LTC This looks bullish. Double bottom confirmed with break and retest of neckline. Forming a bull pennant. FA is solid – halving coming soon. One of my favorites at the moment,” he explained.

Will Halving Be the Catalyst That Sends LTC Higher?

Although Litecoin is currently closely tracking Bitcoin’s price action, it is highly probable that its upcoming rewards halving – which is set to occur in just under 14 days – could spark a rally that is independent of the rest of the crypto markets.

The Crypto Dog, another popular crypto analyst on Twitter, explained that he purchased LTC at $93, and that he expects it to surge significantly higher in the near-future based on the aforementioned halving event.

“Buying & holding spot $LTC. Just bought some more today at $93. Halving coming up,” he explained.

As the halving grows ever nearer and as the crypto markets begin finding some stability after their recent bout of volatility, it is highly likely that analysts will soon understand whether or not LTC will rally on the hype surrounding this event, or if it will underperform analyst’s expectations.

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Litecoin (LTC) Price Analysis: Approaching Next Crucial Break

Litecoin Price Analysis (LTC)

Litecoin price is holding the
$115.00 support area, but it is facing many hurdles. LTC may soon make the next
move either above the $122.50 resistance or towards $112.00.

Key Talking Points

  • Litecoin price is currently consolidating above
    the $117.00 support area (Data feed of Kraken) against the US Dollar.
  • There is a crucial bearish trend line forming
    with resistance near $122.50 on the 4-hours chart.
  • LTC price could either break the $122.50 resistance
    or decline again towards the $112.00 support.

Litecoin Price Analysis (LTC)

In the past three sessions, there were mostly range moves in bitcoin, Ethereum, ripple, EOS and Litecoin against the US Dollar. Earlier, the LTC/USD pair declined below the $115.00 support area, but the $112.00 level acted as a strong support once again.

Litecoin Price Analysis (LTC)

Looking at the chart, LTC price traded as low as $112.21 and recently corrected higher. It broke the $115.00 resistance area and the 50% Fib retracement level of the last drop from the $136.59 high to $112.21 low.

The price climbed above the $125.00 level, but it struggled
to gain momentum above the $127.50 level and the 100 simple moving average
(4-hours). Moreover, there is a crucial bearish trend line forming with
resistance near $122.50 on the 4-hours chart.

The price even struggled to clear the 61.8% Fib retracement
level of the last drop from the $136.59 high to $112.21 low. The price is
currently trading below the $122.50 level, but it is holding the $117.00
support area.

If there is an upside break above the trend line and
$124.00, the price could continue to rise in the near term. The next key
resistance is near $128.00 and the 100 SMA, above which litecoin could jump
towards the $140.00 level.

Conversely, if there is no upside break, the price break the
$117.00 support area. In the mentioned case, the price could revisit the main
$112.00 support area.

Overall, litecoin price seems to be preparing for the next
crucial break, and it could either break the $122.50 resistance or decline
again towards the $112.00 support.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Risk Of Further Losses Below $120

Litecoin Price Analysis (LTC) Chart

Litecoin price started a decent
recovery from $112.00, but it failed to gain pace above the $125.00 resistance.
LTC price is currently under pressure and it could extend losses vs USD and bitcoin.

Key Talking Points

  • Litecoin price struggled to gain strength above $125.00
    and topped near $127.30 (Data feed of Kraken) against the US Dollar.
  • There is a crucial bearish trend line forming with
    resistance at $123.50 on the hourly chart.
  • LTC price remains at a risk of more losses below
    the $120.00 support level in the near term.

Litecoin Price Analysis (LTC)

Recently, there was a decent recovery in bitcoin, litecoin and Ethereum against the US Dollar. The LTC/USD pair broke the $120.00 resistance level, but it struggled to gain momentum above the $125.00 resistance.

Litecoin Price Analysis (LTC) Chart

Looking at the chart, LTC price topped near the $127.30 level and recently started a fresh decline. There was a break below the $123.50 support and the 23.6% Fib retracement level of the last wave from the $112.16 low to $127.30 high.

Moreover, the price traded below the $120.50 support and the
100 hourly simple moving average. It even broke a key connecting bullish trend
line with support near $122.00 on the hourly chart.

It is now trading below the $120.00 level and the 50% Fib
retracement level of the last wave from the $112.16 low to $127.30 high. It
seems like there could be more losses below the $120.00 and $118.00 support levels
in the near term.

The main supports are near the $113.50 and $112.00 levels. On
the upside, there is a strong resistance forming near $125.00. There is also a crucial
bearish trend line forming with resistance at $123.50 on the same chart.

Therefore, a proper close above the $124.00 and $125.00
levels is needed for a decent rise in litecoin price in the near term. If
LTC/USD continues to struggle below $125.00, there could be more losses below
the $118.00 and $115.00 support levels in the near term. The price may even
test the $110.00 support.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Price Trading Near Crucial Juncture

Litecoin Price Analysis (LTC) Chart

Litecoin price started a major
decline from the $140.00 resistance and dropped more than 15%; LTC price trimmed
most its gains and it is currently under a lot of pressure, similar to bitcoin.

Key Talking Points

  • Litecoin price topped near the $140.00 level and
    declined sharply below $125.00 (Data feed of Kraken) against the US Dollar.
  • There is a major bearish trend line forming with
    resistance at $114.50 on the hourly chart.
  • LTC price must stay above the $110.00 support to
    avoid more losses in the near term.

Litecoin Price Analysis (LTC)

Recently, there was a sharp decline in bitcoin, ripple and Ethereum, resulting in bearish moves in Litecoin below $130.00 against the US Dollar. The LTC/USD pair topped near the $140.00 level and recently declined more than 15%.

Litecoin Price Analysis (LTC) Chart

Looking at the chart, LTC price traded as high as $138.21 and it broke the main $130.00 and $125.00 support levels. There was also a close below the $125.00 support and the 100 hourly simple moving average.

It opened the doors for more losses and the price dropped below
$110.00. A new weekly low was formed near $106.84 and the price is currently correcting
higher.

An initial resistance is near the $114.00 level plus the 23.6%
Fib retracement level of the last decline from the $138.21 high to $106.84 low.
Moreover, there is a major bearish trend line forming with resistance at $114.50
on the hourly chart.

If there is an upside break above the trend line and the $115.00
level, the price could recover towards the $120.00 level. The next key resistance
is near $122.50 and the 50% Fib retracement level of the last decline from the
$138.21 high to $106.84 low.

Conversely, if the price fails to move above the $115.00
resistance, it could continue to slide. An immediate support is near the
$110.00 level, below which there is a risk of more losses below the $106.50
support area.

Overall, litecoin price is trading near a crucial juncture
and as long as it is above the $110.00 support, it could start a decent
recovery.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Key Resistance Active, Buying Dips Favored

Litecoin Price Analysis (LTC) Chart

Litecoin price struggled to
gains strength above the $144.00 and $145.00 resistance levels. LTC is
currently declining, but it is likely to find a strong support near $130.00 or
$126.00.

Key Talking Points

  • Litecoin price faced a strong resistance near
    $145.00 and failed to extend gains (Data feed of Kraken) against the US Dollar.
  • There was a break below a key bullish trend line
    with support near $139.00 on the 4-hours chart.
  • LTC price is currently trading below $138.00,
    but it is likely to find bids as long as above $126.00.

Litecoin Price Analysis (LTC)

This pas week, there were solid gains in bitcoin, Ethereum, ripple, EOS and Litecoin against the US Dollar. The LTC/USD pair climbed above the $140.00 level, but it struggled once again to gain strength above the $144.00 and $145.00 resistance levels.

Litecoin Price Analysis (LTC) Chart

Looking at the chart, LTC price traded as high as $145.74 and settled above the 100 simple moving average (4-hours). Later, there was a sharp downside correction below the $140.00 support level.

Moreover, there was a break below a key bullish trend line
with support near $139.00 on the 4-hours chart. The pair even spiked below the
$134.00 level, but the $132.00 level acted as a support.

Besides, the 100 SMA acted as a strong support and the price
is currently correcting higher towards $135.00. An initial resistance is near
the $134.50 level plus the 23.6% Fib retracement level of the last decline from
the $145.75 high to $131.12 low.

However, the main resistance is near the $138.50 level. It
coincides with the broken trend line and the 50% Fib retracement level of the last
decline from the $145.75 high to $131.12 low.

To start a solid rally, the price must surpass the key $144.00
and $145.00 resistance levels. The next hurdle could be near the $150.00 zone.

Overall, litecoin price is trading above the key $132.00
support. If there are more losses, the next main support for the bulls is near
the $126.00 area, below which LTC could turn bearish in the near term.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Bulls Eyeing Crucial Upside Break

Litecoin Price Analysis (LTC) Chart

Litecoin price remained well bid
above the $132.00 and $134.00 support levels; LTC price is likely to break the
$140.00 resistance and rally sharply similar to bitcoin.

Key Talking Points

  • Litecoin price is slowly gaining momentum and is
    currently above the $135.00 support (Data feed of Kraken) against the US Dollar.
  • There is a major bullish trend line forming with
    support at $135.40 on the hourly chart.
  • LTC price is currently climbing higher and it
    could make an attempt to climb above the $140.00 barrier.

Litecoin Price Analysis (LTC)

Recently, there was a sharp increase in bitcoin and Ethereum, but Litecoin remained in a range against the US Dollar. The LTC/USD pair tested the $133.50 level recently and it is currently moving higher.

Litecoin Price Analysis (LTC) Chart

Looking at the chart, LTC price traded as low as $133.45 and it recently climbed above the $135.00 resistance. There was a close above the $135.00 resistance and the 100 hourly simple moving average.

It opened the doors for more gains above the 50% Fib
retracement level of the last decline from the $139.74 high to $133.45 low. At
the moment, the price is gaining pace above the $137.50 level, with a positive
zone.

An immediate resistance is near the $138.25 level, which is
near the 76.4% Fib retracement level of the last decline from the $139.74 high
to $133.45 low.

If there is an upside break, the price could make an attempt
to climb above the $140.00 barrier. A successful close above $140.00 is likely
to set the pace for more gains above the $144.00 and $145.00 resistance levels.

On the downside, there are many supports near $136.00 and
$135.00. There is also a major bullish trend line forming with support at $135.40
on the hourly chart.

Overall, litecoin price is showing positive signs above the $135.00 level. If bitcoin price continues to climb higher, there are chances of an upside break in LTC to USD above the $140.00 barrier. It could even help other altcoins such as EOS and ripple in the coming sessions.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Bulls Preparing For Next Bullish Wave

Litecoin Price Analysis (LTC) Chart

Litecoin price remained well bid
above the $120.00 and $125.00 support levels. LTC is currently trading with a positive
angle and seems to be preparing for the next bullish break.

Key Talking Points

  • Litecoin price found support near the $126.00 level
    and climbed back up (Data feed of Kraken) against the US Dollar.
  • There is a major breakout pattern forming with
    resistance near $137.40 on the 4-hours chart.
  • LTC price is currently consolidating and seems
    to be preparing for the next break above $140.00.

Litecoin Price Analysis (LTC)

Recently, there were solid gains in bitcoin, Ethereum, ripple, and EOS, but Litecoin consolidated against the US Dollar. The LTC/USD pair corrected lower earlier, but it remained well bid above the $120.00 support zone.

Litecoin Price Analysis (LTC) Chart

Looking at the chart, LTC price traded as low as $126.15 and remained well above the 100 simple moving average (4-hours). It started a steady rise and climbed above the $130.00 resistance.

There was a break above the $135.00 level and the 50% Fib
retracement level of the last decline from the $144.23 high to $126.15 swing
low. However, the upward move was capped by the $140.00 resistance zone.

The price was rejected near the 76.4% Fib retracement level
of the last decline from the $144.23 high to $126.15 swing low. At the moment, the
price is consolidating below the $140.00 level.

Moreover, there is a major breakout pattern forming with
resistance near $137.40 on the 4-hours chart. If there is an upside break, the
price is likely to surge above the $140.00 and $144.00 levels.

The next key resistance is near the $150.00 level for the
bulls. Conversely, if there is a downside break below the $130.00 support, the price
could retest the $126.15 swing low.

The main support for Litecoin price is near the $120.00
level, which is likely to act as a strong buy zone. As long as the price is
above $120.00, it remains supported for more gains. On the upside, the main
hurdle is near $150.00, above which $165.00 might be easy for LTC bulls in the
near term.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Bulls Sighting Fresh Increase Above $120

Litecoin Price Analysis (LTC)

Litecoin price found support near
the $100.00 handle and bounced back sharply. LTC is currently trading with a
positive bias and it is likely to accelerate above the $120.00 level.

Key Talking Points

  • Litecoin price is showing a lot of positive
    signs above the $110.00 support (Data feed of Kraken) against the US Dollar.
  • There is a crucial bullish trend line forming
    with support at $111.00 on the 4-hours chart.
  • LTC price is currently trading near the $116.00
    level and it could soon break the $120.00 barrier.

Litecoin Price Analysis (LTC)

Recently, there was a sharp decline in bitcoin, Ethereum, ripple, and EOS, but Litecoin remained stable against the US Dollar. The LTC/USD pair found support near the key $100.00 level and recently bounced back above $110.00.

Litecoin Price Analysis (LTC)

Looking at the chart, LTC price gained bullish momentum above the $105.00 and $110.00 levels. There was also a close above the $110.00 level and the 100 simple moving average (4-hours).

The pair jumped towards the $120.00 resistance area and
formed a swing high at $121.67. It failed to gain momentum above $121.00 and
recently corrected below the $118.00 level and the 23.6% Fib retracement level
of the upward wave from the $101.28 low to $121.67 high.

However, the $112.00 level acted as a strong support.
Besides, the 50% Fib retracement level of the upward wave from the $101.28 low
to $121.67 high also acted as a strong support.

There is also a crucial bullish trend line forming with
support at $111.00 on the 4-hours chart. The 100 simple moving average (4-hours)
is also near the $110.00 level to act as a support.

Therefore, the price remains well supported on the downside
near the $110.00 level. On the upside, the main resistances are near the $120.00
and $122.00 levels.

If there is an upside break above the $122.00 level, Litecoin
price could accelerate further higher. The next key resistance for LTC bulls is
near the $125.00 level, above which the price could accelerate towards the $130.00
level in the near term.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Showing Of More Losses Below $100

Litecoin Price Analysis (LTC)

Litecoin price started a major
decline below the $112 and $110 support levels. LTC is currently under pressure
and it seems like there could be more losses below the $100 level.

Key Talking Points

  • Litecoin price formed a major top near the $120
    level and declined heavily (Data feed of Kraken) against the US Dollar.
  • There was a break below a major bullish trend
    line with support at $112.00 on the hourly chart.
  • LTC price is currently trading near the $100.00
    support and it could continue to decline in the near term.

Litecoin Price Analysis (LTC)

Recently, there was a major drop in bitcoin, Ethereum, EOS, litecoin and ripple against the US Dollar. The LTC/USD pair failed to stay above the $112.00 and $110.00 support levels, resulting in a drop below the $105.00 support.

Litecoin Price Analysis (LTC)

Looking at the chart, LTC price gained bearish momentum below the $105.00 support area. There was even a close below $110.00 level and the 100 hourly simple moving average.

Moreover, there was a break below a major bullish trend line
with support at $112.00 on the hourly chart. The pair even traded below the 23.6%
Fib retracement level of the last major wave from the $84.00 low to $122.10
high.

The price is showing a lot of bearish signs and it is currently
trading near the $102.00 level plus the 50% Fib retracement level of the last
major wave from the $84.00 low to $122.10 high.

An immediate support is near the $100.00 level, below which the
price could continue to move down. If there is a close below $100.00, Litecoin price
is likely to accelerate lower towards the $94.00 level. The 76.4% Fib
retracement level of the last major wave from the $84.00 low to $122.10 high is
also near $94.00 level.

Conversely, if there is an upside correction, the previous
support near the $106.00 and $108.00 levels are likely to act as strong hurdles.
Only a close above $110.00 might start a major upward move in the near term.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Important Uptrend Supports Nearby

Litecoin Price Analysis LTC Chart

Litecoin price made another
attempt to clear the $120.00 resistance against the US dollar, but failed. LTC declined
sharply and it is currently trading above the key $100.00 support.

Key Talking Points

  • Litecoin price failed on two occasions near the
    key $120.00 resistance (Data feed of Kraken) against the US Dollar.
  • There was a break below a major bullish trend
    line with support at $115.00 on the hourly chart.
  • LTC price is currently trading above the $100.00
    support and it could recover in the near term.

Litecoin Price Analysis (LTC)

Recently, there was a nasty declined in bitcoin, Ethereum, EOS, litecoin and ripple against the US Dollar. The LTC/USD pair struggled to clear the $120.00 level, resulting in a sharp drop below the $115.00 and $110.00 support levels.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price topped near the $121.02 level and recently declined below the $115.00 support level. There was even a close below the $110.00 level and the 100 hourly simple moving average.

Moreover, there was a break below a major bullish trend line
with support at $115.00 on the hourly chart. The pair even broke the $108.00
level and traded as low as $101.92.

The price recovered above the $106.00 level and the 23.6%
Fib retracement level of the recent drop from the $121.02 high to $101.92 low. In
the short term, there could be range moves above $100.00 before the price
recovers above $108.00.

The next key resistance is near the $111.50 level and the 100
hourly simple moving average. However, the previous support area near $115.00
is likely to act as a strong hurdle for the bulls.

On the downside, the main supports are $102.00 and $100.00.
If there is a downside break below the $100.00 handle, the price could accelerate
losses towards the $92.00 support.

The current price action is bearish, but litecoin price is
likely to stay above the $100.00 support area. On the upside, an initial
resistance is at $108.00, above which LTC is likely to recover towards the key
$115.00 resistance area.

The market data is provided by TradingView.

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