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#Litecoin Price Analysis:
There was a steady increase above the $220 resistance. The price was able to clear the $240 resistance zone and the 55 simple moving average (4-hours). Finally, there was a clear move above the $270 level. A high was formed near $302 and the price started a downside correction.
📉 The next key support is near the $220 level, below which the price could slide towards the $200 level. An immediate resistance is near the $265 level.
📈 The next key resistance could be $275. A close above the $265 and $275 levels could open the doors for a decent increase. In the stated case, the price could rise towards the $300 barrier in the near term.
There was a steady increase above the $220 resistance. The price was able to clear the $240 resistance zone and the 55 simple moving average (4-hours). Finally, there was a clear move above the $270 level. A high was formed near $302 and the price started a downside correction.
📉 The next key support is near the $220 level, below which the price could slide towards the $200 level. An immediate resistance is near the $265 level.
📈 The next key resistance could be $275. A close above the $265 and $275 levels could open the doors for a decent increase. In the stated case, the price could rise towards the $300 barrier in the near term.