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Litecoin forecast – 20% increase in sight!

 


In our last Litecoin forecast , we discussed whether the Litecoin price will fall to around $60. We came to the conclusion that a support zone must break for the price to drop to $60. As a result, the support zone has held up until now. Now the situation with the Litecoin course has changed, which is why we will go into it today. We at CryptoTicker explain to you today how the Litecoin course could move in the near future.


Will Litecoin Drop Below $100?

Litecoin price is currently finding support at the psychological $100 level, however, the support zone between $112 and $129 has been broken, so we are on the more bearish side here. We expect the price to retest the support zone soon to confirm it as a resistance zone. We could then drop to $100 again. If $100 doesn't hold, which we think it will, the price could drop to $80 and then $60. There are horizontal supports at $60 and $80 that could help the Litecoin price.

Since the current weekly candles look bullish and could cause a short-term trend reversal, we also assume a short upward trend in the daily chart. We expect the Litecoin price to break the drawn trend line in order to subsequently climb to the slightly higher trend line. The target is around $122, which is why a price increase of around 20% is not unlikely. Overall, however, the trend is still bearish, which is why you should definitely be careful with long positions!

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