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Litecoin value prolonged its enhance above the $90 zone in opposition to the US Dollar. LTC is rising and would possibly try a contemporary rally above the $100 resistance.

• Litecoin began a contemporary enhance above the $90 zone in opposition to the US Dollar.
• The value is now buying and selling above $90 and the 100 easy shifting common (4-hours).
• There is a key bullish development line forming with help close to $89.50 on the 4-hours chart of the LTC/USD pair (information feed from Kraken).
• The value might begin one other rally if there’s a clear transfer above the $100 resistance.

Litecoin Price Outperforms Bitcoin

This previous week, litecoin value fashioned a help base above the $85 degree in opposition to the US Dollar. LTC value began a gentle enhance above the $90 resistance zone, outperforming bitcoin and ethereum.

The bulls have been in a position to push the value above the $95 resistance. A brand new yearly excessive was fashioned close to $97.72 and the value is now consolidating positive aspects. It is buying and selling close to the 23.6% Fib retracement degree of the current enhance from the $86.98 swing low to $97.72 excessive.

Litecoin value is now buying and selling above $90 and the 100 easy shifting common (4-hours). There can also be a key bullish development line forming with help close to $89.50 on the 4-hours chart of the LTC/USD pair.

Source: LTCUSD on TradingView.com

On the upside, a direct resistance is close to the $97.75 degree. The subsequent main resistance is close to the $100 degree. If there’s a clear break above the $100 resistance, the value might begin a powerful enhance. In the acknowledged case, the value is prone to proceed larger in the direction of the $108 and $115 ranges. Any extra positive aspects would possibly ship ltc value in the direction of the $120 resistance zone.

Dips Limited in LTC?

If Litecoin value fails to clear the $100 resistance degree, there could possibly be a draw back correction. An preliminary help on the draw back is close to the $92.50 degree.

The first main help is forming close to the $90 degree or the 76.4% Fib retracement degree of the current enhance from the $86.98 swing low to $97.72 excessive or the development line. Any additional losses could maybe ship the value in the direction of the $85 help.

Technical indicators:

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

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

Major Support Levels – $92.50 adopted by $90.00.

Major Resistance Levels – $97.75 and $100.00.