Litecoin Price Prediction for Today, September 22 – LTC Technical Analysis
Release: 2024/09/23 04:39 Reading: 912
Litecoin Price Prediction
Litecoin (LTC) has regained ground from its daily opening price of $7.40 and is trending upwards.
Litecoin Price Statistics:
- Current Price: $66.90
- Market Cap: $5.0 billion
- Circulating Supply: 75 million
- Total Supply: 84 million
- Coinmarketcap Ranking: #20
Historical Performance:
Since 2015, LTC has surged over +5879.85% from its all-time low of $1.11. While it has retreated from its 2021 peak of $412.96, it remains active and has traded between $64.89 and $66.98 in the past 24 hours.
LTC/USD Market Analysis:
- Key Resistance Levels: $80.0, $85.0, $90.0
- Key Support Levels: $50.0, $45.0, $40.0
LTC has been consolidating within a channel on the daily chart, where lower highs and lows are forming. This suggests a potential retreat if the $67 resistance level is not breached.
Symmetrical Triangle Formation:
Within the descending channel, LTC has formed a symmetrical triangle pattern, indicating a potential breakout. However, the direction of the breakout depends on market forces. Litecoin's current price is constrained within the triangle, suggesting a significant move is imminent.
Support and Resistance Levels:
A key support level lies around $64.0 (aligned with the 9-day and 21-day moving averages). A breakdown below this level could lead to a correction towards $50.0, $45.0, or $40.0. Conversely, a breakout above the channel's upper boundary suggests a potential surge towards $75, with resistance levels at $80.0, $85.0, and $90.0.
LTC/BTC Analysis:
Against Bitcoin, Litecoin is trending upwards and approaching the 1058 SAT level. A breakout above the channel's upper boundary could indicate a shift towards bullish momentum. This could lead to resistance levels of 1200 SAT and above. Conversely, a retest below the channel's lower boundary could push the price towards 880 SAT and below.
Analyst Sentiment:
@AltCryptoTalk speculates a potential long opportunity for LTC as it approaches $50 and suggests a momentum candle close above $69 for the bulls to regain control.
Alternatives to Litecoin:
If buying pressure intensifies, LTC may break above $68.0 resistance. Pepe Unchained has also gained attention in the market, with a whale's recent $60,000 investment. This interest reflects confidence in its potential for high returns as it raised $14.6 million in its presale.
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