...

Litecoin Technical Analysis – October-24-2023

Share

In today’s comprehensive Litecoin technical analysis, we will meticulously delve into the details of the key levels pertaining to the LTCUSD pair.

Litecoin Technical Analysis

Litecoin bulls are currently challenging the resistance at $71.15, following a successful breach and retest of the $68.45 level. The $64.45 level is now acting as a support line. The RSI indicator has lingered in the overbought territory for some time, suggesting a potential cooling off period.

Litecoin Technical Analysis - October-24-2023

LTCUSD Technical Analysis – 4H Chart by TradingView

A long wick candlestick has formed on the 4-hour chart, hinting at a possible easing of upward momentum. Despite this, the outlook for the LTCUSD pair remains bullish as long as the price stays above the crucial support level of $68.45.

Should the price dip below this level, it could signal an end to the bullish bias, with bears potentially targeting the pivot point at $64. This comprehensive analysis provides key insights into Litecoin’s current market dynamics and potential future movements.

  • 24 October 2023
Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.