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Litecoin (LTC) Price Analysis for July 21

Fri, 07/21/2023 - 18:00
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Denys Serhiichuk
Is rate of Litecoin (LTC) ready to rise soon?
Litecoin (LTC) Price Analysis for July 21
Cover image via www.tradingview.com

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The market is again mostly red, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap

Top coins by CoinMarketCap

LTC/USD

The price of Litecoin (LTC) has declined by 0.13% since yesterday.

LTC/USD chart byTradingView

Image by TradingView

On the local chart, the rate of Litecoin (LTC) is trading sideways, as the price has not decided yet which way to move. However, if the test of the resistance happens by the end of the day, growth may continue to the $93.50 zone tomorrow.

LTC/USD chart byTradingView

Image by TradingView

On the bigger time frame, the situation is quite similar, as the rate is far from the key levels. The falling volume confirms such a statement.

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In this regard, ongoing consolidation in the area of $90-$95 is the more likely scenario until the end of the month.

LTC/USD chart byTradingView

Image by TradingView

On the weekly chart, neither bulls nor bears have seized the initiative yet, which means that traders have low chances to see any sharp moves soon. Respectively, sideways trading near the $90 mark is the more likely scenario for the next few weeks.

Litecoin is trading at $92.51 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.