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Litecoin (LTC) Price Analysis for December 21

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Thu, 21/12/2023 - 18:00
Litecoin (LTC) Price Analysis for December 21
Cover image via www.tradingview.com

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Bulls could not hold the initiative until the end of the day, and most of the coins have returned to the red zone.

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LTC chart by CoinStats

LTC/USD

The rate of Litecoin (LTC) has declined by 2% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of LTC has made a false breakout of the support of $69.22. If the bar closes near the resistance level or even above it, there is a chance to see a test of the $71-$72 area soon.

Image by TradingView

On the daily time frame, the situation is less positive as the price keeps trading near the $67.91 level. 

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If buyers lose the $70 zone, one can expect a test of the support level, followed by a blast to the $64-$66 range.

Image by TradingView

On the bigger chart, one should focus on the weekly bar closure in terms of the previous bar low. If it happens above $70.15, buyers may seize the initiative, which may lead to a bounce back to $72.

LTC is trading at $70.15 at press time.

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