Litecoin price is climbing higher and it recently climbed above the .00 resistance against the US Dollar.LTC price traded to a new 2020 high at .51 and it currently consolidating gains.There was a break above a major ascending channel with resistance near .70 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair is likely to continue higher above the .00 and .00 resistance levels in the near term.Litecoin price is gaining momentum above .00 against the US Dollar, similar to bitcoin. LTC price could even surge towards the key 0.00 barrier if it clears .00.Litecoin Price AnalysisIn the past few days, there were significant gains in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price remained well bid above the .00 pivot
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Steve Muchoki writes Binance Founder Changpeng Zhao Apologizes in Letter to Presiding Judge Ahead of Upcoming Sentencing
Temitope Olatunji writes Figment Soars with Record-Breaking Growth in Q1 2024 and Expanded Staking Services
Chimamanda U. Martha writes Strike Launches Crypto Payment Services in Europe
Godfrey Benjamin writes Ripple IPO: David Schwartz Makes Key Expose on His Stock Option
- Litecoin price is climbing higher and it recently climbed above the $80.00 resistance against the US Dollar.
- LTC price traded to a new 2020 high at $84.51 and it currently consolidating gains.
- There was a break above a major ascending channel with resistance near $80.70 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to continue higher above the $85.00 and $88.00 resistance levels in the near term.
Litecoin price is gaining momentum above $80.00 against the US Dollar, similar to bitcoin. LTC price could even surge towards the key $100.00 barrier if it clears $88.00.
Litecoin Price Analysis
In the past few days, there were significant gains in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price remained well bid above the $65.00 pivot level and it followed a decent bullish path.
The bulls gained pace above the $70.00 and $75.00 resistance levels. Moreover, there was a proper close above the $75.00 level and the 55 simple moving average (4-hours).
During the recent rise, there was a break above a major ascending channel with resistance near $80.70 on the 4-hours chart of the LTC/USD pair. Litecoin price even climbed above the $82.00 level.
It traded to a new 2020 high at $84.51 and it currently consolidating gains. An initial support on the downside is near the $81.70 level. It coincides with the 23.6% Fib retracement level of the recent rally from the $72.55 low to $84.51 high.
Besides, the broken channel resistance near $81.50 might also provide support. Any further losses could lead the price towards the $78.50 support area.
The 50% Fib retracement level of the recent rally from the $72.55 low to $84.51 high is waiting near the $78.50 area to provide support. The main uptrend support is seen near the $76.00 level and the channel lower trend line.
If the price fails to stay above $76.00, it could start a major correction towards $65.00. On the upside, an initial resistance is seen near the $85.00 and $88.00 levels. A clear break above $88.00 might open the doors for a larger rally in the coming sessions.
Litecoin Price
Looking at the chart, litecoin price is showing a lot of positive signs above the $82.00 and $80.00 levels. Therefore, there are high chances of more gains towards $88.00 or even $100.00.
Technical indicators
4 hours MACD – The MACD for LTC/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now well above the 65 level.
Key Support Levels – $81.50 and $78.50.
Key Resistance Levels – $85.00 and $88.00.