Litecoin Price Prediction: Can LTC Escape $102 To The Upside?

• Litecoin price prediction reveals that the price is traveling in an ascending channel; for the past one year.
• LTC price reported a profit of 62% in the last one year.
• Litecoin price briefly pierced the resistance peaking at $115.

Litecoin’s (LTC) price prediction highlights the sluggish recovery of the LTC token, which has been moving up since June 2022. The LTC token is moving with low momentum after recovering from a dump in 2022. The price is traveling in an ascending channel and moving up to the resistance of $102. The LTC price action is mostly sideways, which can be determined by the flat EMAs. The market tried to breach the resistance where the price peaked at $115 but couldn’t sustain it.

At the time of writing, the current market price of LTC tokens is $92.35. The 24-hour trading volume surged 27.59%. The market is down 0.54% in the last 24 hours. The overall market cap of Litecoin is $6,780,570,777.

Can LTC Price Break the Resistance to the Upside?

Litecoin’s (LTC) price prediction highlights the price action that has been trapped below the resistance of $100 for the past year. The LTC crypto price has made multiple attempts to break it but hasn’t been able to perform a sustained breakout. The LTC token price has consolidated between the range of $100 and $75 since March 2023.

The market made a bullish recovery after briefly dipping below the support in June 2023, when the price jumped 62%. During this bounce, the LTC crypto price peaked at $115, briefly piercing the resistance. However, it was quickly followed by a correction of 21.50%. As of now, the price is resting above local support of $92.15.

Will Litecoin (LTC) Sustain above the Support?

The 4-hour chart reveals the price action in a shorter time frame. This shows that the LTC token price is in a consolidation phase. After the volatility, the market has lost momentum and is moving sideways along the local support zone. The LTC crypto price can be seen crawling around the 9, 15, and 200 EMAs, revealing the sideways price action of the market.

The diminished volume also points to the lack of participants in the current market. The short-term trend is sideways, and it is unclear where the market may move next. The LTC token price may try to break the resistance or test the support. A more volatile move can be expected only if the price breaks either level.

RSI: The RSI indicator is currently at 50.43. It represents bullish to sideways conditions where the price may continue to rise until RSI crosses below  50. Aggressive buying may happen only if RSI goes above 70.

MACD: MACD made a bullish crossover below the 0 line. This indicates that the market may move up slowly without momentum and the price may rise aggressively if the indicator crosses the 0 line to the upside

200 EMA: On the 4-hour chart, the price is trading very close to the 200 Ema. This means that the market is moving sideways and it would be best to wait for the price to move away from the indicator to establish a clear trend.

Conclusion:

Litecoin’s (LTC) price prediction highlights the sluggish recovery of the LTC token, which has been moving up since June 2022. The market has been trapped under the $100 resistance for quite some time. However, the price is moving in an ascending channel. If LTC breaks below the channel, it may trigger a sell-off. Therefore, investors should wait for the price to break the resistance before considering any buying opportunity.

Technical Levels

• Support level: $92
• Resistance level: $102

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.