• Litecoin (LTC) price started to increase steadily above $78 against the US Dollar.
• There was a break above a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair.
• If there is a clear move above $90, litecoin price could gain bullish momentum and reach the $95 level.
Litecoin Price Analysis
Litecoin (LTC) started to increase steadily against the US Dollar, with a break above a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair.
Bulls Aiming For Upside Break To $95
The bulls are aiming for an upside break to reach the $95 level. If there is a clear move above $90, litecoin price could gain bullish momentum and continue higher in this bullish trend. The next major resistance sits near the $95 level, which is near the 1.618 Fib extension level of the downward move from the$88.06 swing high to$76.96 low.
Resistance & Support Levels
On the downside, an initial support is near the $85 level, followed by another key support at around $82 level. If there is a downside break below this support, then litecoin could accelerate lower towards its next major support at aroundthe$75levelinthenearterm. Ontherise,thepriceisfacingresistancenear$88levelandanymoregainsthemightsendtheprice towardsthe$100levelinthelongterm.
Looking at technical indicators such as MACD and RSI shows that they are both gaining pace in their respective bullish zones and signaling further gains in Litecoin’s price in coming days ahead if it breaks past certain resistances levels mentioned earlier in article ($88,90).
Overall, litecoin has been showing positive signs and if it clears certain resistances levels then it will likely continue its upward trajectory towards reaching its target of 95$.