Litecoin (LTCUSD) Price Forecast: May 6
Amidst the recent market fluctuations, LTCUSD’s price might grow further as the coin expands actively and increases toward the $141.14 resistance level. If the buying pressure persists, the crypto price may hint at a 5% increase, retesting the $142.00 resistance and extending to reach the $147.22 upper resistance levels, indicating an intraday gain and an accumulation zone for coin investors.
Key Levels:
Resistance Levels: $138.00, $139.00, $140.00
Support Levels: $97.00, $96.00, $95.00
LTC (USD) Long-term Trend: Bullish (Daily Chart)
The LTCUSD pair might grow further amidst the slight upsurge in the market. The coin price showcases a notable rise, increasing towards the upper resistance levels, and remains in a bullish trend market in its long-term view. The coin price is trending towards the overhead resistance above the moving average line, indicating a bullish momentum.
After the completion of the previous session at a $84.80 low, the Litecoin price rebounded to a high of $88.07 level above the moving averages as the daily chart opens today; indicating that traders are actively buying and the crypto price might grow further, accounting for a 2.7% gain and an increasing investment.
Thus, a possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery toward the overhead resistance.
Similarly, the market is pointing upwards on the daily signal. As a result, the emergence of buyers to move the price of LTCUSD is crucial leading to an increase in the token price towards the $147.22 upper resistance trend mark, as the coin price anticipates growing further in its higher time frame.
LTC (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term chart, prices are above the moving averages and have confirmed a bullish momentum breaking the previous high, suggesting the crypto price might grow further.
LTCUSD is losing bearish momentum as it rises to a $88.20 high level above the moving averages as the 4-hourly chart begins today, indicating that the coin price will grow further due to a high bullish impact on the market price.
With sustained investors’ enthusiasm, the Litecoin price prediction could increase toward the $91.87 resistance level, resulting in an intraday gain for buyers.
Additionally, if LTCUSD buyers could hold above the $91.87 and close a candle, closing above the mentioned resistance will signal a potential BUY. As a result, the token price might grow further to reach a $147.22 upper high mark in the days ahead in its medium-term outlook.
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