- Litecoin worth began a robust surge above the $80.00 and $82.00 resistance ranges in opposition to the US Greenback.
- LTC worth traded near the $95.00 stage and settled beneath the 55 easy transferring common (4-hours).
- There was a break above a key bearish pattern line with resistance close to $82.10 on the 4-hours chart of the LTC/USD pair (knowledge feed from Coinbase).
- The pair is now going through a robust resistance close to the $92.00 and $94.00 ranges.
Litecoin worth is up over 10% and it examined the $95.00 zone in opposition to the US Greenback, whereas bitcoin is above $21K. LTC worth might appropriate decrease if it struggles close to $92.50 and $94.50.
Litecoin Value Evaluation
This week, there was a pointy enhance in bitcoin, Ethereum, ripple, and litecoin in opposition to the US Greenback. Earlier, LTC worth shaped a robust assist base close to the $78.30 stage earlier than beginning the current enhance.
There was a break above the $82.00 resistance stage and the worth settled properly above the 55 easy transferring common (4-hours). In the course of the rise, there was a break above a key bearish pattern line with resistance close to $82.10 on the 4-hours chart of the LTC/USD pair.
There was additionally a break beneath the $88.00 stage and the worth spiked above the primary $92.50 resistance zone. A excessive is shaped close to the $94.53 stage and the worth is at present consolidating features.
An preliminary assist on the draw back is close to the $90.70 stage. It’s near the 23.6% Fib retracement stage of the current rally from the $78.30 low to $94.53 excessive. If there are extra downsides, the worth might appropriate decrease in direction of the $86.50 and $85.50 ranges.
The 50% Fib retracement stage of the current rally from the $78.30 low to $94.53 excessive can also be close to the $86.40 stage. Conversely, the worth might proceed to maneuver up above the $92.50 resistance.
The subsequent main resistance is close to the $94.50 and $95.00 ranges. A profitable shut above the $95.00 stage could maybe spark a transfer in direction of the $100.00 stage.
Wanting on the chart, litecoin worth is clearly exhibiting bullish indicators beneath $90.00 and the 55 easy transferring common (4-hours). Total, the worth is now going through a robust resistance close to the $92.00 and $94.00 ranges, but it surely stays properly supported for extra features.
4 hours MACD – The MACD for LTC/USD is at present shedding momentum within the bullish zone.
4 hours RSI (Relative Power Index) – The RSI for LTC/USD is correcting decrease from the 70 stage.
Key Assist Ranges – $90.00 and $86.50.
Key Resistance Ranges – $92.50 and $95.00.