Litecoin Gained 7.1%: What’s the Next Target?

Litecoin gained 7.1%, marching slowly toward $100.0. The uptrend from $92.5 could extend to the 38.2% Fibonacci at $109.6 if bulls close and stabilize the prices above the 23.6% Fibonacci resistance area.

Litecoin Technical Analysis – 14-January-2025

FxNews—Litecoin has been in a bear market, below the 50- and 100-period simple moving average and has lost 16.0% of its value since January 6. However, the selling pressure eased near the $92.5 support.

As of this writing, the cryptocurrency trades at approximately $98.6, testing the $100.0 phycological level as resistance while it formed a bullish engulfing candlestick pattern in the 4-hour chart.

What Do Technical Indicators Reveal?

• The RSI 14 value is 43.0, meaning the bear market weakens.
• The Stochastic Oscillator value is 42.0, supporting the RSI’s signal.
• The Awesome Oscillator histogram is green, nearing zero from below. This indicates that the bull market is strengthening.

Overall, the technical indicators suggest that while the primary trend is bearish, LTC/USD has the potential to target higher resistance levels.

Litecoin Gained 7.1%: The Bullish Outlook

The immediate resistance is at $100.7. From a technical perspective, the bullish wave from $95.5 could extend to higher resistance levels if LTC/USD closes above $100.7. In this scenario, the next target bullish target could be the 38.2% Fibonacci level at $109.0.

Furthermore, if the buying pressure exceeds $109.0, the bulls’ path to the %50.0 Fibonacci resistance at $116.0 will likely be paved.

Please note that the bullish outlook should be invalidated if Litecoin falls below $96.6 support, backed by the bullish fair value gap.

• Good read: Bitcoin is up 6.6% Amid Divergence Signals: What’s Next?

The Scenario

The immediate support is at $96.6. From a technical standpoint, the downtrend will likely resume if LTC falls below $96.6. If this scenario unfolds, the next target bearish target could be testing the $92.5.

Additionally, if selling pressure pushes the prices below $92.0, Litecoin’s downtrend could spread to $86.5.

Litecoin Support and Resistance Levels – 14-January-2025

Traders and investors should closely monitor the LTC/USD key levels below to make informed decisions and adjust their strategies accordingly as market conditions shift.