Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n Litecoin [LTC]<\/a> saw its prices climb from $60 to $70 in the past ten days, with the local high at $72.89. A new high for the network\u2019s hash rate<\/a> could have triggered the uptick in prices.<\/p>\n Read Litecoin\u2019s [LTC] Price Prediction<\/a> 2023-24<\/p>\n A previous analysis of LTC by AMBCrypto<\/a> noted that a short-term dip from $71 to $65.2 was a likelihood last week. This idea was nearly validated when prices reached $65.6 but saw a bounce thereafter.<\/p>\n Source: LTC\/USDT on TradingView<\/p>\n<\/div>\n Since 22 August, LTC faced resistance at the $68-$70 region. It formed a range (orange) that extended from $68.35 down to $57.8. In the past week, the price consolidated around the range high. It formed a new lower timeframe range (white) from $70.88 to $66.12.<\/p>\n At the time of writing the market structure on the one-hour chart was bullish. The Relative Strength Index (RSI) was above neutral 50 and signaled a move higher was possible. The On-Balance Volume (OBV) reinforced this idea with its uptrend, showing increased buying volume over the past few days.<\/p>\n A dip to the $66-$67.5 zone could offer a short-term buying opportunity targeting the range high. Short sellers could also enter LTC trades if the price reaches the $71 mark and faces rejection.<\/p>\n\n
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\nThe short-term range formation pointed toward a phase of consolidation<\/h4>\n
![\"Litecoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-3-LTC-price-1.png\")
<\/a><\/p>\nLiquidation levels showed where price reversals could occur<\/h4>\n
![\"Litecoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-3-LTC-hyblock-1.png\")
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