Litecoin value is gaining tempo above $90 in opposition to the US Greenback. LTC might rally additional above $100 and rise towards the $110 resistance.
- Litecoin is steadily shifting greater towards $100 in opposition to the US Greenback.
- The worth is now buying and selling above $90 and the 100 easy shifting common (4 hours).
- There was a break above a key bearish development line with resistance close to $86.20 on the 4-hour chart of the LTC/USD pair (knowledge feed from Kraken).
- The worth might rally additional towards the $100 and $110 ranges.
Litecoin Worth Regains Energy
After forming a base above the $80 stage, Litecoin’s value began a contemporary enhance in opposition to the US Greenback. LTC value broke the $85 resistance to start out the present rally.
There was a break above a key bearish development line with resistance close to $86.20 on the 4-hour chart of the LTC/USD pair. The pair rallied over 10% and outperformed each Bitcoin and Ethereum. It even climbed above the $92 stage. A excessive is shaped close to $95.85 and the worth is now consolidating good points above the 23.6% Fib retracement stage of the upward transfer from the $81.70 swing low to the $95.85 excessive.
Litecoin is now buying and selling above $90 and the 100 easy shifting common (4 hours). On the upside, speedy resistance is close to the $96 zone. The subsequent main resistance is close to the $100 stage. If there’s a clear break above the $100 resistance, the worth might begin one other sturdy enhance.
Supply: LTCUSD on TradingView.com
Within the said case, the worth is more likely to proceed greater towards the $108 and $110 ranges. Any extra good points would possibly ship LTC’s value towards the $120 resistance zone.
Are Dips Restricted in LTC?
If Litecoin value fails to clear the $100 resistance stage, there might be a draw back correction. Preliminary help on the draw back is close to the $92 stage.
The subsequent main help is forming close to the $88.50 stage or the 50% Fib retracement stage of the upward transfer from the $81.70 swing low to the $95.85 excessive, beneath which there’s a threat of a transfer towards the $85.00 help. Any additional losses could maybe ship the worth towards the $82 help.
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 50 stage.
Main Help Ranges – $92.50 adopted by $88.50.
Main Resistance Ranges – $96.00 and $100.00.
