Litecoin value is gaining tempo above the $100 zone towards the US Greenback. LTC might rise additional if there’s a clear transfer above the $105 resistance zone.
- Litecoin began a recent enhance above the $98 zone towards the US Greenback.
- The value is now buying and selling above $98 and the 100 easy shifting common (4 hours).
- There’s a key bullish development line forming with help close to $100 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The value might begin one other surge if there’s a clear transfer above the $105 resistance.
Litecoin Worth Eyes Regular enhance
This previous week, Litecoin’s value shaped a help base above the $95 degree towards the US Greenback. LTC value began a gradual enhance above the $98 resistance zone, much like Bitcoin and Ethereum.
The bulls had been in a position to push the worth above the $100 resistance. A excessive is shaped close to $102.90 and the worth is now consolidating beneficial properties. It’s buying and selling effectively above $98 and the 100 easy shifting common (4 hours). There’s additionally a key bullish development line forming with help close to $100 on the 4-hour chart of the LTC/USD pair. The development line is near the 50% Fib retracement degree of the upward transfer from the $97.35 swing low to the $102.90 excessive.
On the upside, speedy resistance is close to the $103 zone. The subsequent main resistance is close to the $105 degree. If there’s a clear break above the $105 resistance, the worth might begin one other robust enhance.
Supply: LTCUSD on TradingView.com
Within the said case, the worth is prone to proceed increased towards the $112 and $115 ranges. Any extra beneficial properties may ship LTC’s value towards the $120 resistance zone.
Are Dips Supported in LTC?
If Litecoin value fails to clear the $105 resistance degree, there may very well be a draw back correction. Preliminary help on the draw back is close to the $100 degree and the development line.
The subsequent main help is forming close to the $98 degree or the 76.4% Fib retracement degree of the upward transfer from the $97.35 swing low to the $102.90 excessive, under which there’s a danger of a transfer towards the $95 help. Any additional losses might maybe ship the worth towards the $92 help.
Technical indicators:
4-hour MACD – The MACD is now gaining tempo within the bullish zone.
4-hour RSI (Relative Power Index) – The RSI for LTC/USD is above the 50 degree.
Main Help Ranges – $100.00 adopted by $98.00.
Main Resistance Ranges – $105.00 and $112.00.
