Litecoin Price Analysis: Bulls Aiming for Break Above $95

•Litecoin started a steady increase above $78 against the US Dollar.
•The pair could gain bullish momentum if it clears the $88 and $90 resistance levels.
•There is a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair.

Litecoin Price Analysis

Litecoin has started to see positive movements against the US Dollar, similar to Bitcoin. The price of LTC is currently trading above $85 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance at $85 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). If there is a clear move above $90, Litecoin price could climb further.

Resistance Levels

On the upside, Litecoin price is facing resistance near the $88 level. A clear move above this level could push the price towards the $95 level, which is near 1.618 Fib extension level of he downward move from the$88.06 swing high to $76.96 low. The next major resistance sits near teh$95 level and any more gains might send Litecoin’s price towards teh$100 level.

Support Levels

On teh downside, an initial support for Litecoin’s price lies near teh$85 level. The next major support lies near tbe$82 level, and if there is adownside break below this support, then Litecon would accelerate lower towards teb$75 lebel in tehnear term future..

Technical Indicators

The MACD for LTC/USD is now gaining pace in tehebullish zone andthe RSI for LTC/USD is alsoabove 50 lebel indicating thatthe momentum favourstehe bulls at present..

Conclusion

Overall, if Litecoin manages to clear teheresistance levels at$88 and $90 then itwould gain bullishmomentum nd could potentially rise upto $95 or even higherthantat innehar future..