It seems like Litecoin managed to survive the weekend uncertainty, but will it be able to maintain the momentum in the long run, or will it succumb to yet another Bitcoin slump in the future?
Today’s Litecoin price analysis will be focusing on the crucial support and resistance levels that Litecoin will be facing in the coming days. We’ll try to figure out if any of these price points could be a decisive move from LTC.
Litecoin price analysis: Resistance and Support
At the moment of writing this article, Litecoin is nestled at the $77 price point, just a little bit below the $78 it managed to reach just a few hours ago. But compared to the state it was on Friday, it’s safe to say that LTC has recovered more or less.
The primary resistance for Litecoin was at $75, but since that has already been passed, let’s look at the further issues this altcoin could face. Considering that $78 wasn’t able to hold, it’s safe to say that’s the goal resistance for bulls right now. Past $78, we get $81 and later $85 before mooning past $100 if possible.
When it comes to resistance though, the picture is even better. Litecoin can still find support at $72 and $71 price point, which are extremely unlikely to break. Therefore all the $48 Litecoin conspiracy could already be discarded.
Overall, LTC is looking much more bullish starting this week, but its performance is still heavily linked to Bitcoin.