Litecoin Price Reaches $100 Resistance Level
The price of Litecoin is steadily increasing and is now trading above $90 and the 100 simple moving average (4 hours). There was a break above a key trend line with resistance near $86.20, indicating a bullish trend. The price could potentially rally further towards the $100 and $110 levels.
Litecoin Price Regains Strength
- Litecoin’s price started a fresh increase after forming a base above the $80 level.
- The price broke the $85 resistance and surpassed both Bitcoin and Ethereum.
- A high was formed near $95.85 and the price is now consolidating gains.
- Litecoin is trading above $90 and the 100 simple moving average (4 hours).
Are Dips Limited in LTC?
If the price fails to clear the $100 resistance level, there could be a downside correction. The initial support is near the $92 level, followed by the $88.50 level. Further losses may potentially send the price towards the $82 support level.
Technical Indicators
- 4-hour MACD is in the bullish zone.
- 4-hour RSI for LTC/USD is above the 50 level.
In conclusion, the price of Litecoin is showing strength and has the potential to continue higher towards the $108 and $110 levels. However, if it fails to break the $100 resistance level, a downside correction may occur. It is important to monitor the support levels and technical indicators for further price movements.
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