Litecoin worth is gaining tempo above $90 in opposition to the US Greenback. LTC may 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 pattern line with resistance close to $86.20 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The worth may rally additional towards the $100 and $110 ranges.
Litecoin Value Regains Energy
After forming a base above the $80 degree, Litecoin’s worth began a recent improve in opposition to the US Greenback. LTC worth broke the $85 resistance to start out the present rally.
There was a break above a key bearish pattern 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 degree. A excessive is shaped close to $95.85 and the worth is now consolidating beneficial properties above the 23.6% Fib retracement degree 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, instant resistance is close to the $96 zone. The subsequent main resistance is close to the $100 degree. If there’s a clear break above the $100 resistance, the worth may begin one other robust improve.
Supply: LTCUSD on TradingView.com
Within the said case, the worth is prone to proceed greater towards the $108 and $110 ranges. Any extra beneficial properties would possibly ship LTC’s worth towards the $120 resistance zone.
Are Dips Restricted in LTC?
If Litecoin worth fails to clear the $100 resistance degree, there may very well be a draw back correction. Preliminary assist on the draw back is close to the $92 degree.
The subsequent main assist is forming close to the $88.50 degree or the 50% Fib retracement degree 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 assist. Any additional losses might maybe ship the worth towards the $82 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 50 degree.
Main Assist Ranges – $92.50 adopted by $88.50.
Main Resistance Ranges – $96.00 and $100.00.