Litecoin (LTC) Price Analysis: Attractive Dips Near $82

• Litecoin started a downside correction from the $94 zone against the US Dollar.
• There is a key bullish trend line forming with support near $82.50 on the 4-hours chart of the LTC/USD pair.
• The price could start a fresh increase if it clears the $86.50 resistance.

Litecoin Price Analysis

Litecoin recently formed a base above the $75 level and started a fresh increase against the US Dollar. The price even climbed above the $90 level and the 55 simple moving average (4 hours). However, bears were active near the $94 zone and initiated a downside correction below $88.

Current Price Levels

The current price levels suggest that there is strong support near $82.50 or the 50% Fib retracement level of the upward move from the $71.09 swing low to the $93.82 high. There is also a key bullish trend line forming with support near this level on the 4-hours chart of LTC/USD pair (data feed from Coinbase). If bulls are able to clear this support, then it could result in another upswing towards higher levels such as $86.50 and beyond.

Resistance Levels

On upside, there is major resistance around $86 which needs to be breached for further gains in Litecoin’s price action over coming days and weeks ahead. A clear move above this resistance might call for test of next major resistance at around $88 and eventually towards psychological barrier at around 100$.

Downside Trendline Support

In case of any bearish pressure, immediate support exists at around 82$ which is just below current trading range and coincides with aforementioned bullish trendline on daily charts alongwith 50% fibo retracement making it an important supportive region for buyers to defend against any potential bearish run in short term horizon .


Overall, Litecoin appears to be supported for further gains unless there is a break below 82$ in upcoming sessions which can result in continuation of current sideways action or more losses towards lower levels before any meaningful upside recovery can be seen .