Litecoin (LTCUSD) Price Forecast: August 5
The LTCUSD price is struggling heavily not to fall entirely and it could remain and continue to face the positive side if bulls could exchange hands with bears at the current support of $85.48 level. If this is achieved, the recovery rally could break up the $114.01 price level and head toward the $120.00 high mark accounting for a rise to the new resistance phase.
Key Levels:
Resistance Levels: $90.00, $100.00, $110.00
Support Levels: $75.00, $70.00, $65.00
LTC (USD) Long-term Trend: Bearish (Daily Chart)
Litecoin‘s price is forming lower lows and lower highs on its long-term chart. Further, it is trading below the two EMAs; it means that it’s in a bearish market zone at the moment.
This is due to the high inflow from the sell traders. Sustained pressure from bears at the $85.78 support level during yesterday’s session has contributed to its bearishness in its recent low.
However, on the daily chart today, bears made a drop to a $85.48 low level below the moving averages. Thus, should bulls change their orientation and push higher, the coin price may reverse and face the upside to retest the $105.07 previous high mark.
Furthermore, LTCUSD now trades below the 8% range of the daily stochastic; this means that the coin price may likely experience a retracement at the current support.
Should an increase occurred the coin price turns up from the $85.48 support and jump above a $105.07 high mark, the bearish thesis would get invalidated and may further extend the price of Litecoin to head towards the $120.00 high mark level in the days ahead in its higher time frame.
LTC (USD) Medium-term Trend: Bearish (4H Chart)
The LTCUSD pair is showing a bearish sentiment. Price actions can be seen below the moving averages. The short traders’ pressure at the $87.03 low value in the past few hours has sustained prices below the supply levels in recent times. 
Today, the price pulls back at the $86.31 supply level, which later increases to a $86.93 high level below the two EMAs, indicating the bulls’ gradual return to the market.
However, the LTCUSD market could grow further if buyers managed to break up above the $109.56 previous high level, maintaining further growth potential for coin traders.
Meanwhile, a further rise in Litecoin is possible as indicated by the daily stochastic pointing upwards, if the buy traders can trigger their buying pressure and break up the supply trend levels, the price of Litecoin might head toward the $120.00 supply level soon in its medium-term time frame.
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