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Litecoin value is gaining tempo above $90 towards the US Dollar. LTC might rally additional above $100 and rise towards the $110 resistance.
- Litecoin is steadily shifting larger towards $100 towards the US Dollar.
- The value is now buying and selling above $90 and the 100 easy shifting common (4 hours).
- There was a break above a key bearish pattern line with resistance close to $86.20 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The value might rally additional towards the $100 and $110 ranges.
Litecoin Price Regains Strength
After forming a base above the $80 degree, Litecoin’s value began a contemporary enhance towards the US Dollar. LTC value broke the $85 resistance to begin the present rally.
There was a break above a key bearish pattern line with resistance close to $86.20 on the 4-hour chart of the LTC/USD pair. The pair rallied over 10% and outperformed each Bitcoin and Ethereum. It even climbed above the $92 degree. A excessive is shaped 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 shifting common (4 hours). On the upside, speedy 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 might begin one other sturdy enhance.
Source: LTCUSD on TradingView.com
In the acknowledged case, the value is prone to proceed larger towards the $108 and $110 ranges. Any extra positive aspects would possibly ship LTC’s value towards the $120 resistance zone.
Are Dips Limited in LTC?
If Litecoin value fails to clear the $100 resistance degree, there may very well be a draw back correction. Initial 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 of the upward transfer from the $81.70 swing low to the $95.85 excessive, beneath which there’s a danger of a transfer towards the $85.00 assist. Any additional losses could maybe ship the value towards the $82 assist.
Technical indicators:
4-hour MACD – The MACD is now gaining tempo within the bullish zone.
4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 50 degree.
Major Support Levels – $92.50 adopted by $88.50.
Major Resistance Levels – $96.00 and $100.00.
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