Litecoin Price Analysis: Bulls Eyeing $100 as Key Resistance Level
• Litecoin started a steady increase above $85 against the US Dollar.
• There is a key bearish trend line forming with resistance at $92 on the 4-hours chart of the LTC/USD pair.
• The price could gain bullish momentum if it clears the $92 and $95 resistance levels.
Litecoin (LTC) Price Analysis
Litecoin (LTC) started a steady increase above the $85 mark against the US Dollar. On the 4-hours chart of the LTC/USD pair, there is a key bearish trend line forming with resistance at $92. A clear move above this level could push the price towards higher levels and open up more upside potential for Litecoin.
Key Resistance Levels
The current key resistance levels for Litecoin are located at $92 and $95. If these levels are breached, then further gains may be seen for Litecoin in the near term. However, if these levels hold, then Litecoin may start to consolidate or even retrace back down lower.
Looking at technical indicators such as MACD and RSI, they suggest that there is an upward bias in Litecoin’s price action currently as both indicators are moving into bullish territory on 4-hours charts. Hence, this suggests that further gains could be seen for Litecoin in coming days.
Key Support Levels
The current key support levels for Litecoin are located around $88 and below that around $85 mark which may act as strong support levels if prices retrace lower from current levels or breach any of these two mentioned support marks during their upcoming upside rally attempt.
Overall, it appears that Litecoin has found some stability above its previous lows after its recent sharp price drop from highs nears to over 100 dollars mark earlier this month and now looks poised to move higher again if bulls manage to break through its current resistance level of 92 dollars soon enough in coming days ahead ahead of time frame we discussed here today in this article overall conclusion wise so stay tuned until then!