Litecoin worth is up over 10% and buying and selling above $105 towards the US Greenback. LTC might proceed to rise towards the $120 resistance zone within the close to time period.
- Litecoin is exhibiting optimistic indicators from the $95 assist zone towards the US Greenback.
- The worth is now buying and selling above $105 and the 100 easy shifting common (4 hours).
- There’s a key bullish pattern line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The worth might proceed to rise towards the $120 degree until it breaks the $100 assist.
Litecoin Value Features Bullish Momentum
Prior to now couple of days, Litecoin gained tempo and outperformed Bitcoin and Ethereum. LTC worth fashioned a base above the $80 degree and began an honest improve.
There was a break above the $88 and $95 resistance ranges. The bulls even pushed the worth above $100. There was a transparent transfer above the 76.4% Fib retracement degree of the downward transfer from the $105.71 swing excessive to the $77.00 low. A brand new multi-week excessive was fashioned at $112.49 and the worth is now consolidating features.
high close to $68.40 earlier than it began a recent decline.
Litecoin is now buying and selling above $10 and the 100 easy shifting common (4 hours). There’s additionally a key bullish pattern line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair.
On the upside, rapid resistance is close to the $112.50 zone. It’s close to the 1.236 Fib extension degree of the downward transfer from the $105.71 swing excessive to the $77.00 low. The subsequent main resistance is close to the $115 degree. If there’s a clear break above the $115 resistance, the worth might begin one other sturdy improve.
Supply: LTCUSD on TradingView.com
Within the acknowledged case, the worth is more likely to proceed increased towards the $120 and $122 ranges. Any extra features would possibly ship LTC’s worth towards the $132 resistance zone.
Are Dips Supported in LTC?
If Litecoin worth fails to clear the $105 resistance degree, there could possibly be a draw back correction. Preliminary assist on the draw back is close to the $105 degree.
The subsequent main assist is forming close to the $100 degree, beneath which there’s a threat of a transfer towards the $95 assist. Any additional losses could maybe ship the worth towards the $88 assist.
Technical indicators:
4-hour MACD – The MACD is now gaining tempo within the bullish zone.
4-hour RSI (Relative Energy Index) – The RSI for LTC/USD is above the 65 degree.
Main Help Ranges – $105 adopted by $100.
Main Resistance Ranges – $115 and $120.
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