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Litecoin (LTC) Price Analysis for July 21

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Fri, 21/07/2023 - 18:00
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.

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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.

Related

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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