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NullTx 2025-02-04 15:54:19

LITECOIN PRICE ANALYSIS & PREDICTION (February 4) – LTC Sits Above $100 After a Major Recovery, Will it Hold?

LITECOIN PRICE ANALYSIS & PREDICTION (February 4) – LTC Sits Above $100 After a Major Recovery, Will it Hold?

Following yesterday’s crash, LTC found solid ground, recovered well and closed well with a long-wicked rejection. This suggested selling exhaustion, but the bears are not giving up yet. Since the bulls lost track in December 2024, LTC’s price has remained weak while undergoing retracement. The bulls managed to push back in the mid-month but they could not sustain pressure above $141. They reattempted the $135 level in the late month but failed. All these rejections led to a serious meltdown in the past few days and the asset collapsed yesterday, breaking through several key levels until it dropped to a multi-month low of $80. This low level holds as support and the price recovered significantly with a close above the $100 mark. The mark level is still holding but the bears are not giving up. A drop off this mark level should fuel a huge breakdown in the short term. Considering the previous daily wick rejection, which suggests an exhaustion in the latest selling, LTC could regain momentum anytime soon. Inversely, it may retest the recent low before rising back. However, it has posted a 12% gain today, but the bulls are yet to recover from the heavy loss. A push above $147 should bring a full recovery in the market before rallying hard. LTC’s Key Level To Watch Source: Tradingview Losing the $100 mark level again could slide us back to $92.6 and $87. If the bulls fail to defend these levels well, the next level for support would be $80 and perhaps $70 shortly. Since yesterday’s interception, the bulls have yet to show commitment. If they do, the potential resistance for an increase would be $106.3 and $117.3. A push above these resistance levels should propel buying to $135.3 and potentially $147 in the near term. Key Resistance Levels: $106.3, $117.3, $135.3 Key Support Levels: $92.6, $87, $80 Spot Price: $102.7 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: gopixa/ 123RF // Image Effects by Colorcinch

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