Litecoin worth is recovering greater from the $75.00 zone towards the US Dollar. LTC may proceed to rise if it clears the $84.00 resistance zone.
- Litecoin is displaying optimistic indicators from the $75 help zone towards the US Dollar.
- The worth is now buying and selling under $85 and the 100 easy transferring common (4 hours).
- There is a key bearish pattern line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair (information feed from Kraken).
- The worth may acquire bullish momentum if it clears the $83-$84 resistance zone.
Litecoin Price Aims Higher
After a gradual decline, Litecoin discovered help close to the $75.00 resistance zone, like Bitcoin and Ethereum. LTC worth began a restoration wave above the $78.00 and $80.00 resistance ranges.
It even cleared the 50% Fib retracement degree of the downward transfer from the $88.49 swing excessive to the $74.59 low. The bulls even pumped the worth above $82.00, however the bears had been lively close to the 100 easy transferring common (4 hours).
There can be a key bearish pattern line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair. Litecoin is now buying and selling under $85 and the 100 easy transferring common (4 hours).
On the upside, speedy resistance is close to the $83.00 zone or the 61.8% Fib retracement degree of the downward transfer from the $88.49 swing excessive to the $74.59 low. The subsequent main resistance is close to the $84 degree. If there’s a clear break above the $84 resistance, the worth may begin one other sturdy improve.
Source: LTCUSD on TradingView.com
In the said case, the worth is more likely to proceed greater towards the $88.50 and $90.00 ranges. Any extra positive aspects may ship LTC’s worth towards the $95.00 resistance zone.
Are Dips Supported in LTC?
If Litecoin worth fails to clear the $84 resistance degree, there could possibly be a draw back correction. Initial help on the draw back is close to the $80.00 degree.
The subsequent main help is forming close to the $77.80 degree, under which there’s a danger of a transfer towards the $75.00 help. Any additional losses might maybe ship the worth towards the $70.00 help.
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 65 degree.
Major Support Levels – $80.00 adopted by $77.80.
Major Resistance Levels – $83.00 and $84.00.
Disclaimer: The article is supplied for academic functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your individual analysis earlier than making any funding choices. Use data supplied on this web site fully at your individual danger.
