Why LTC Could Hit $100 and Outperform Bitcoin

Litecoin value began a gradual enhance above the $65 resistance towards the US Greenback. LTC is presently rising and may rally additional in the direction of the $100 stage.

• Litecoin began a robust enhance above the $55 and $65 ranges towards the US Greenback.
• The value is now buying and selling above $65 and the 100 easy transferring common (4-hours).
• There’s a key bearish pattern line forming with resistance close to $77.50 on the 4-hours chart of the LTC/USD pair (information feed from Kraken).
• The value should clear the $77.50 and $84 to rise in the direction of the $100 resistance zone.

Litecoin Worth Outperforms Bitcoin

Prior to now few days, litecoin value noticed an honest enhance above the $50 stage towards the US Greenback. LTC value rallied over 20% and outperformed each bitcoin and ethereum.

There was a transfer above the $65 and $75 resistance ranges. The value even surpassed $80 and settled above the 100 easy transferring common (4-hours). It traded as excessive as $83.35 earlier than there was a draw back correction. There was a transfer under the $80 and $75 help ranges.

The value declined under the 23.6% Fib retracement stage of the upward transfer from the $59.17 swing low to $83.35 excessive. Nonetheless, litecoin value is now buying and selling above $65 and the 100 easy transferring common (4-hours).

It stayed above the 50% Fib retracement stage of the upward transfer from the $59.17 swing low to $83.35 excessive. On the upside, an instantaneous resistance is close to the $77.50 stage.

Supply: LTCUSD on TradingView.com

There’s additionally a key bearish pattern line forming with resistance close to $77.50 on the 4-hours chart of the LTC/USD pair. If there’s a clear break above the $77.50 resistance, the value might begin a robust enhance. Within the said case, the value is more likely to proceed larger in the direction of the $85 and $90 ranges. Any extra features may ship ltc value in the direction of the $100 resistance zone.

Dips Restricted in LTC?

If Litecoin value fails to clear the $77.50 resistance stage, there could possibly be one other pullback. An preliminary help on the draw back is close to the $71.20 stage.

The primary main help is forming close to the $68 stage. Any additional losses might maybe ship the value in the direction of the $55 help within the coming periods.

Technical indicators:

4-hours MACD – The MACD is slowly transferring into the bullish zone.

4-hours RSI (Relative Power Index) – The RSI for LTC/USD is presently above the 50 stage.

Main Assist Ranges – $71.20 adopted by $68.00.

Main Resistance Ranges – $77.50 and $85.00.