{"id":139927,"date":"2023-09-02T00:37:12","date_gmt":"2023-09-01T19:07:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=139927"},"modified":"2023-09-02T00:37:12","modified_gmt":"2023-09-01T19:07:12","slug":"ltc-faces-uphill-task-near-70-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ltc-faces-uphill-task-near-70-crypto-news\/","title":{"rendered":"LTC Faces Uphill Task Near $70 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Litecoin price declined heavily below $80 and $70 against the US Dollar. LTC is attempting a recovery wave but upsides might be limited above $70.<\/em><\/p>\n<ul>\n<li>Litecoin is correcting losses from the $56 support zone against the US Dollar.<\/li>\n<li>The price is now trading below $70 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key bearish trend line forming with resistance near $66.00 on the 4-hour chart of the LTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price could recover above $66 but the bears might remain active near $70.<\/li>\n<\/ul>\n<h2>Litecoin Price Starts Recovery<\/h2>\n<p>This past week, there was a sharp decline in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-losses-25k\/\">Bitcoin<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-correction-1600\/\">Ethereum<\/a>, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $85 before it started a fresh decline.<\/p>\n<p>There was a sharp decline below $80 and $70. The price even declined below $60. It traded as low as $55.78 and recently started an upside correction. There was a minor increase above the $60 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low.<\/p>\n<p>Litecoin is now trading below $70 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $66.00 on the 4-hour chart of the LTC\/USD pair.<\/p>\n<p>On the upside, immediate resistance is near the $66 zone. The next major resistance is near the $70 level. It is close to the 50% Fib retracement level of the downward move from the $85.39 swing high to the $55.78 low. If there is a clear break above the $70 resistance, the price could start another strong increase.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\">LTCUSD on TradingView.com<\/a><\/p>\n<p>In the stated case, the price is likely to continue higher toward the $75 and $78 levels. Any more gains might send LTC\u2019s price toward the $85 resistance zone.<\/p>\n<h2>Fresh Decline in LTC?<\/h2>\n<p>If Litecoin price fails to clear the $70 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.50 level.<\/p>\n<p>The next major support is forming near the $60 level, below which there is a risk of a move toward the $56.00 support. Any further losses may perhaps send the price toward the $52 support.<\/p>\n<p>Technical indicators:<\/p>\n<p>4-hour MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>4-hour RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is still below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $63.50 followed by $60.00.<\/p>\n<p>Major Resistance Levels \u2013 $66.00 and $70.00.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price declined heavily below $80 and $70 against the US Dollar. LTC is attempting a recovery wave but upsides might be limited above $70. Litecoin is correcting losses from the $56 support zone against the US Dollar. The price is now trading below $70 and the 100 simple moving average (4 hours). There is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":139928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-139927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=139927"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139927\/revisions"}],"predecessor-version":[{"id":139929,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139927\/revisions\/139929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/139928"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}