LITACOIN Key support in focus as price loops breakout decision


TLDR:

  • Litecoin bounced from $ 83 but is now struggling to hold over its 20-SMA close to $ 85.
  • $ 87 acts as resistance and can define the direction of the next move.
  • Liquidity zones to $ 94 and $ 81 indicate that volatility may return quickly.
  • Volume profile shows strong interest at current levels from both buyers and sellers.

LITECOIN (LTC) is approaching A crucial point after recovering from early June. The asset bounced from the $ 83 zone and recovered short $ 94 before being released below $ 86.

Analysts look at the current price range close when it is in line with critical support and resistance levels. With liquidity clusters that are formed above and below the current level, price volatility can increase.

Traders remain cautious and look both upward and disadvantages during the days Forward.

LITECOIN EYES RECOVERY After Test Support

According to Crypto Analyst Zen (@Wiseanalyze), Litecoin recovered from The $ 83.48 zone earlier this month and moved in line with a previous forecast.

The stop coincided with the monthly 20-day simple moving average (SMA), estimated about $ 85.20, which helped to drive a short-term rally to a local top of $ 94.16.

This resistance zone, listed as a previous liquidity area, served as a roof before LTC withdrew. From June 20, the price is approximately $ 85.82, which indicates that the market is testing SMA as potential support again.

Zen noted that the level of $ 87 now acts as a resistance zone. This area is also in line with Litecoin’s monthly close to level, which makes it an important point for future price movements. The current tight consolidation around SMA shows decisions about the market, without clear outbreak or degradation.

If the Bulls recycle the $ 87 level with strength, the price can go through $ 93 to the $ 95 range, test earlier heights and tap in the upper liquidity pool.

Distribution may press LTC against lower liquidity zones

If the $ 85 support fails, the downside pressure may increase. A drop below 20-SMA could drive Litecoin back towards the $ 81 mark, where another liquidity zone awaits. Below it offers historical levels close to $ 77 and $ 72.89 additional support.

Analysts emphasize that both $ 94.16 and $ 81 are areas where stop order or large market interest can trigger sharp features, depending on which page is tested first.

The volume profile included in Zen’s analysis shows that most trade activities are grouped near current price levels. This supports the idea of ​​a high interest rate range there Buyers and sellers actively participate.

Data from Coytecko places LTC to $ 81.82 at the publication, which marks a 3.28% dip over the past 24 hours and a decline of 3.57% over the past week. This price drop takes Litecoin closer to its lower liurIdle zone, increases the risk of further disadvantage if the current support is broken.

LTC price on Co Ringecko





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *