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• LTC’s worth exhibits power as worth bounces off from a weekly low of $50 to pattern increased, giving bulls some reduction. 
• LTC’s worth continues to look robust as bearish sentiment for the market lingers, with issues wanting unsure for many merchants and traders. 
• LTC’s worth rallies excessive on the every day timeframe as the worth strikes in the direction of $90 above the 50 and 200 Exponential Moving Averages (EMA)

Litecoin (LTC) worth has held robust above $60, exhibiting good bullish indicators of rallying to a excessive of $90-$100 if the market situations stay favorable for costs. With many in search of a serious dump in Bitcoin (BTC) worth, the worth of Bitcoin (BTC) bounced from $15,500 as worth rallied to a excessive of $16,500, leaving bears on the sidelines as the worth of Litecoin (LTC) beneficial properties extra momentum to rally. The worth motion displayed by Litecoin (LTC) in latest instances has been encouraging in comparison with many altcoins battling for survival. The Domino impact of the FTX saga and different enormous traders concerned has left the market at a standstill because the market is but to make a serious transfer after earlier weeks. (Data from Binance)

Litecoin (LTC) Price Analysis On The Weekly Chart

The previous few days haven’t been the perfect of instances for many crypto merchants and traders, with many turning into nervous as to the place the market could possibly be headed after a lot turbulence within the crypto house as many altcoins have struggled to point out power, dropping their key assist in a bid to outlive. 

The present uncertainty surrounding the market has resulted in reluctance on the a part of merchants and traders to make altcoin purchases, as there isn’t a assurance if they might be heading up any time quickly.

The worth of LTC has been a standout performer of the market as costs proceed to point out immersed power holding up nicely above $60 regardless of the persistent FUD (worry of uncertainty and doubt). LTC noticed its worth traded in a area of $60 on the weekly chart, however the worth bounced from this area to a rally excessive of $80, exhibiting some nice power. The worth of LTC confronted resistance to commerce increased to a area of $90-$100. LTC worth wants to interrupt above $80 for extra indicators of a rally. 

Weekly resistance for the worth of LTC – $80.

Weekly assist for the worth of LTC – $60.

Price Analysis Of LTC On The Daily (1D) Chart

The worth of LTC stays significantly robust within the every day timeframe as the worth trades above $70 assist after breaking apart properly from its every day vary motion exhibiting some nice worth motion to pattern increased to a area of $80. 

If the worth of LTC breaks and holds above $80, we may see extra rallies for the LTC worth to a area of $90-$100; a break beneath a area of $70 would ship the worth again to a area of $60.  

Daily resistance for the LTC worth – $80.

Daily assist for the LTC worth – $75-$70.

Featured Image From zipmex, Charts From Tradingview