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 value is now buying and selling above $105 and the 100 easy shifting common (4 hours).
- There’s a key bullish development line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair (knowledge feed from Kraken).
- The value might proceed to rise towards the $120 degree until it breaks the $100 assist.
Litecoin Value Beneficial properties Bullish Momentum
Up to now couple of days, Litecoin gained tempo and outperformed Bitcoin and Ethereum. LTC worth fashioned a base above the $80 degree and began a good improve.
There was a break above the $88 and $95 resistance ranges. The bulls even pushed the value 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 value is now consolidating features.
prime close to $68.40 earlier than it began a contemporary decline.
Litecoin is now buying and selling above $10 and the 100 easy shifting common (4 hours). There may be additionally a key bullish development line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair.
On the upside, quick 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 value might begin one other robust improve.
Supply: LTCUSD on TradingView.com
Within the acknowledged case, the value is prone to proceed larger 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 value 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.
Disclaimer: The article is supplied for instructional functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your individual analysis earlier than making any funding choices. Use data supplied on this web site solely at your individual threat.
