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Litecoin value is up over 10% and buying and selling above $105 in opposition to the US Greenback. LTC may proceed to rise towards the $120 resistance zone within the close to time period.
- Litecoin is displaying optimistic indicators from the $95 assist zone in opposition to the US Greenback.
- The worth is now buying and selling above $105 and the 100 easy shifting common (4 hours).
- There’s a key bullish development line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The worth may proceed to rise towards the $120 degree except it breaks the $100 assist.
Litecoin Value Features Bullish Momentum
Prior to now couple of days, Litecoin gained tempo and outperformed Bitcoin and Ethereum. LTC value shaped a base above the $80 degree and began an honest enhance.
There was a break above the $88 and $95 resistance ranges. The bulls even pushed the value above $100. There was a transparent transfer above the 76.4% Fib retracement degree of the downward transfer from the $105.71 swing excessive to the $77.00 low. A brand new multi-week excessive was shaped at $112.49 and the value is now consolidating beneficial properties.
prime close to $68.40 earlier than it began a recent decline.
Litecoin is now buying and selling above $10 and the 100 easy shifting common (4 hours). There’s additionally a key bullish development line forming with assist at $101.50 on the 4-hour chart of the LTC/USD pair.
On the upside, rapid resistance is close to the $112.50 zone. It’s close to the 1.236 Fib extension degree of the downward transfer from the $105.71 swing excessive to the $77.00 low. The following main resistance is close to the $115 degree. If there’s a clear break above the $115 resistance, the value may begin one other sturdy enhance.
Supply: LTCUSD on TradingView.com
Within the acknowledged case, the value is prone to proceed larger towards the $120 and $122 ranges. Any extra beneficial properties may ship LTC’s value towards the $132 resistance zone.
Are Dips Supported in LTC?
If Litecoin value fails to clear the $105 resistance degree, there might be a draw back correction. Preliminary assist on the draw back is close to the $105 degree.
The following main assist is forming close to the $100 degree, beneath which there’s a danger of a transfer towards the $95 assist. Any additional losses might maybe ship the value towards the $88 assist.
Technical indicators:
4-hour MACD – The MACD is now gaining tempo within the bullish zone.
4-hour RSI (Relative Energy Index) – The RSI for LTC/USD is above the 65 degree.
Main Help Ranges – $105 adopted by $100.
Main Resistance Ranges – $115 and $120.
Disclaimer: The article is supplied for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your individual analysis earlier than making any funding choices. Use info supplied on this web site completely at your individual danger.
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