Litecoin worth picks up tempo above $90 in opposition to the US greenback. LTC might rise additional above $100 and rise in direction of the $110 resistance.
- Litecoin is transferring steadily larger in direction of $100 in opposition to the US greenback.
- The value is now buying and selling above $90 and the 100 easy transferring 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 (information feed from Kraken).
- The value might rise additional in direction of the $100 and $110 ranges.
Litecoin worth regains energy
After forming a base above the $80 degree, Litecoin’s worth began a brand new rally in opposition to the US greenback. LTC worth broke the $85 resistance to begin 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 rose over 10%, outperforming each Bitcoin and Ethereum. It even climbed above the $92 degree. A excessive has fashioned close to $95.85 and the value is now consolidating positive aspects 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 transferring common (4 hours). On the upside, fast 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 value may begin one other robust rally.
Supply: LTCUSD on TradingView.com
Within the aforementioned case, the value is prone to proceed larger in direction of the $108 and $110 ranges. Any additional positive aspects may ship LTC’s worth in direction of the $120 resistance zone.
Are Dips restricted in LTC?
If the Litecoin worth fails to clear the $100 resistance degree, a draw back correction may very well be in retailer. 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 for the upward transfer from the $81.70 swing low to the $95.85 excessive, beneath which there’s a danger of a transfer in direction of $85.00 – the assist. Any additional losses might ship the value in direction of the $82 assist.
Technical indicators:
4-hour MACD – The MACD is now gaining momentum within the bullish zone.
4-hour RSI (Relative Power 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.
