{"id":1346,"date":"2024-11-21T05:11:04","date_gmt":"2024-11-21T05:11:04","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/litecoin-ltc-at-a-crossroads-can-it-rebound-and-rally\/"},"modified":"2024-11-21T05:11:04","modified_gmt":"2024-11-21T05:11:04","slug":"litecoin-ltc-at-a-crossroads-can-it-rebound-and-rally","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/litecoin-ltc-at-a-crossroads-can-it-rebound-and-rally\/","title":{"rendered":"Litecoin (LTC) at a Crossroads: Can It Rebound and Rally?"},"content":{"rendered":"<p><em>Litecoin price is consolidating above the $80.00 level against the US Dollar. LTC could start a fresh increase if it clears the $88.00 resistance zone.<\/em><\/p>\n<ul>\n<li>Litecoin is showing positive signs from the $80 support zone against the US Dollar.<\/li>\n<li>The price is now trading below $88 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price could start a fresh increase if it clears the $88.00 resistance zone.<\/li>\n<\/ul>\n<h2>Litecoin Price Eyes Fresh Increase<\/h2>\n<p>After forming a base above $85, Litecoin started a fresh increase. LTC price broke the $88 and $90 resistance levels to move into a positive zone, like Bitcoin and Ethereum.<\/p>\n<p>The price gained over 10% and even cleared the $95 level. A high was formed at $98 before there was a pullback. The price dipped below $88 and tested $82. A low was formed at $81.69 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low.<\/p>\n<p>Litecoin is now trading below $88 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $85.00 zone. There is also a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-654164\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Litecoin.png?resize=1024%2C478\" alt=\"Litecoin (LTC) at a Crossroads\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The next major resistance is near the $88 level or the 50% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low. If there is a clear break above the $88 resistance, the price could start another strong increase. In the stated case, the price is likely to continue higher toward the $92 and $95 levels. Any more gains might send LTC\u2019s price toward the $100 resistance zone.<\/p>\n<h2>More Losses in LTC?<\/h2>\n<p>If Litecoin price fails to clear the $86 resistance level, there could be another decline. Initial support on the downside is near the $82 level.<\/p>\n<p>The next major support is forming near the $80 level, below which there is a risk of a move toward the $75 support. Any further losses may perhaps send the price toward the $68 support.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $82.00 followed by $80.00.<\/p>\n<p>Major Resistance Levels \u2013 $86.00 and $88.00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price is consolidating above the $80.00 level against the US Dollar. LTC could start a fresh increase if it clears the $88.00 resistance zone. Litecoin is showing positive signs from the $80 support zone against the US Dollar. The price is now trading below $88 and the 100-hourly Simple Moving Average. There is a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[561],"tags":[563,562,564,565],"class_list":["post-1346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ltc","tag-litecoin","tag-ltc","tag-ltc-usd","tag-ltc-usdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1346"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1347"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}