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Litecoin worth began a robust improve above the $70 resistance towards the US Dollar. LTC is at present consolidating and would possibly goal extra upsides above $85.

• Litecoin began a robust improve above the $65 and $70 ranges towards the US Dollar.
• The worth is now buying and selling above $70 and the 100 easy shifting common (4-hours).
• There is a serious bullish development line forming with help close to $74.00 on the 4-hours chart of the LTC/USD pair (information feed from Kraken).
• The worth should clear the $83.20 and $84.65 to start out one other improve within the close to time period.

Litecoin Price Continues To Outperform

In the previous few days, litecoin price started a steady increase above the $60 stage towards the US Dollar. LTC worth was capable of clear the $65 and $70 resistance ranges to maneuver right into a bullish zone.

The bulls even pumped the value above the $80 stage, outperforming each bitcoin and ethereum. However, the value confronted sellers close to the $85 zone. A excessive was shaped close to $85.08 and the value is now consolidating features.

Litecoin worth is now buying and selling above $70 and the 100 easy shifting common (4-hours). There was a minor decline under the 23.6% Fib retracement stage of the upward transfer from the $70.57 swing low to $85.08 excessive. Besides, there is a serious bullish development line forming with help close to $74.00 on the 4-hours chart of the LTC/USD pair.

Source: LTCUSD on TradingView.com

On the upside, a right away resistance is close to the $82.00 stage. The first main resistance is close to the $83.20 stage. The foremost resistance is close to $85. If there is a transparent break above the $85 resistance, the value may begin a robust improve. In the acknowledged case, the value is more likely to proceed increased in the direction of the $92 and $95 ranges. Any extra features would possibly ship ltc worth in the direction of the $100 resistance zone.

Dips Supported in LTC?

If Litecoin worth fails to clear the $82.00 resistance stage, there could possibly be a draw back correction. An preliminary help on the draw back is close to the $80 stage.

The first main help is forming close to the $77.80 stage. The acknowledged stage is close to the 50% Fib retracement stage of the upward transfer from the $70.57 swing low to $85.08 excessive. Any additional losses might maybe ship the value in the direction of the $74 help within the coming classes.

Technical indicators:

4-hours MACD – The MACD is slowly shedding tempo within the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is at present above the 50 stage.

Major Support Levels – $78.00 adopted by $74.00.

Major Resistance Levels – $82.50 and $85.00.