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Is Litecoin Price Ready to Skyrocket?
- Litecoin (LTC) price is consolidating below key moving averages, hinting at a potential major move in the near future.
- As of June 16, 2025, LTC is trading around $86.64, showing resilience but facing resistance.
- Charts indicate bullish potential if LTC breaks above $89 with strong volume, targeting $96–$100.
- The daily chart reflects resistance between $87 and $89, with 100-day and 200-day SMAs acting as barriers.
- Heikin Ashi candles suggest weakening selling momentum, signaling a possible bullish shift if confirmed.
- On the hourly chart, LTC is consolidating around $86–$87.50, with a potential bullish crossover imminent.
- A breakout above the 200 SMA on the hourly chart could lead LTC towards $92 and then $96.
- Fibonacci levels indicate key resistance at $88.50, $92, and $96, with a breakout suggesting an 8.47% gain potential.
- Downside risk exists if LTC fails to break above $88.50, potentially retesting $80 and lower levels.
- The 200-day SMA at $101 poses a significant hurdle, indicating a downtrend unless breakthroughs are confirmed on higher timeframes.
- In the short term, LTC appears neutral-bullish, with $88.50–$89 being a critical resistance zone to surpass.
- Traders should monitor volume and daily closes closely over the next few sessions to gauge LTC's direction.
- A successful breakout could propel LTC towards $96–$100, while failure may lead to a drop towards $80.
- The next 48 hours are deemed critical for Litecoin's price action amidst the ongoing market conditions.
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