The post Litecoin (LTC) Price Analysis: Key Uptrend Support Intact, Fresh Increase? appeared on BitcoinEthereumNews.com.

Litecoin is holding the key support at $65.00 against the US Dollar. LTC price is now trading below $70.00 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $70.00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the $70.00 and $71.00 resistance levels. Litecoin price is rising from the $65.00 zone against the US Dollar, like Bitcoin. LTC price could climb again if there is a clear move above $71.00. Litecoin Price Analysis In the past few days, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. However, LTC struggled to clear the $76.80 resistance zone and started a fresh decline. There was a move below the $72.00 and $70.00 support levels. Finally, the bulls protected the key support at $65.00. A low is formed near $65.22 and the price is now attempting a fresh increase. The price started a recovery wave above the $66.50 and $68.00 levels. It broke the 23.6% Fib retracement level of the downward move from the $76.85 swing high to the $65.22 low. Litecoin is now trading below $70.00 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $70.00 level. There is also a key bearish trend line forming with resistance near $70.00 on the 4-hour chart of the LTC/USD pair. The first major resistance is near the $71.00 level. It is close to the 50% Fib retracement level of the downward move from the $76.85 swing high to the $65.22 low. A clear move above the $71.00 level could push the price toward the $74.75 zone. The next major resistance sits near the $76.85 level. Any…

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Filed under: News - @ November 23, 2023 4:20 am