{"id":27215,"date":"2023-08-21T05:08:37","date_gmt":"2023-08-21T05:08:37","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/21\/ltc-faces-uphill-task-near-70\/"},"modified":"2023-08-21T05:08:37","modified_gmt":"2023-08-21T05:08:37","slug":"ltc-faces-uphill-task-near-70","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/21\/ltc-faces-uphill-task-near-70\/","title":{"rendered":"LTC Faces Uphill Task Near $70"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Litecoin value declined closely under $80 and $70 towards the US Dollar. LTC is trying a restoration wave however upsides may be restricted above $70.<\/em><\/p>\n<ul>\n<li>Litecoin is correcting losses from the $56 help zone towards the US Dollar.<\/li>\n<li>The value is now buying and selling under $70 and the 100 easy transferring common (4 hours).<\/li>\n<li>There is a key bearish development line forming with resistance close to $66.00 on the 4-hour chart of the LTC\/USD pair (information feed from Kraken).<\/li>\n<li>The value might get better above $66 however the bears would possibly stay lively close to $70.<\/li>\n<\/ul>\n<h2>Litecoin Price Starts Recovery<\/h2>\n<p>This previous week, there was a pointy decline in <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-losses-25k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a>, <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-correction-1600\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a>, Litecoin, and different altcoins towards the US Dollar. LTC value fashioned a high close to $85 earlier than it began a recent decline.<\/p>\n<p>There was a pointy decline under $80 and $70. The value even declined under $60. It traded as little as $55.78 and lately began an upside correction. There was a minor enhance above the $60 resistance stage. The value climbed above the 23.6% Fib retracement stage of the downward transfer from the $85.39 swing excessive to the $55.78 low.<\/p>\n<p>Litecoin is now buying and selling under $70 and the 100 easy transferring common (4 hours). There can be a key bearish development line forming with resistance close to $66.00 on the 4-hour chart of the LTC\/USD pair.<\/p>\n<p>On the upside, instant resistance is close to the $66 zone. The subsequent main resistance is close to the $70 stage. It is near the 50% Fib retracement stage of the downward transfer from the $85.39 swing excessive to the $55.78 low. If there&#8217;s a clear break above the $70 resistance, the worth might begin one other robust enhance.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-548160\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468\" alt=\"Litecoin Price Prediction\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Litecoin.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"noopener\">LTCUSD on TradingView.com<\/a><\/p>\n<p>In the said case, the worth is prone to proceed increased towards the $75 and $78 ranges. Any extra beneficial properties would possibly ship LTC\u2019s value towards the $85 resistance zone.<\/p>\n<h2>Fresh Decline in LTC?<\/h2>\n<p>If Litecoin value fails to clear the $70 resistance stage, there might be a recent decline. Initial help on the draw back is close to the $63.50 stage.<\/p>\n<p>The subsequent main help is forming close to the $60 stage, under which there&#8217;s a threat of a transfer towards the $56.00 help. Any additional losses could maybe ship the worth towards the $52 help.<\/p>\n<p>Technical indicators:<\/p>\n<p>4-hour MACD \u2013 The MACD is now gaining tempo within the bullish zone.<\/p>\n<p>4-hour RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD remains to be under the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $63.50 adopted by $60.00.<\/p>\n<p>Major Resistance Levels \u2013 $66.00 and $70.00.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/ltc\/litecoin-price-prediction-ltc-resistance-70\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Litecoin value declined closely under $80 and $70 towards the US Dollar. LTC is trying a restoration wave however upsides may be restricted above $70. Litecoin is correcting losses from the $56 help zone towards the US Dollar. The value is now buying and selling under $70 and the 100 easy transferring common (4 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