Litecoin Price Prediction: LTC Looks Ready For Another Leg Higher Over $105
April 18 2023 - 1:58AM
NEWSBTC
Litecoin price is gaining pace above the $100 zone against the US
Dollar. LTC could rise further if there is a clear move above the
$105 resistance zone. Litecoin started a fresh increase above the
$98 zone against the US Dollar. The price is now trading above $98
and the 100 simple moving average (4 hours). There is a key bullish
trend line forming with support near $100 on the 4-hour chart of
the LTC/USD pair (data feed from Kraken). The price could start
another surge if there is a clear move above the $105 resistance.
Litecoin Price Eyes Steady increase This past week, Litecoin’s
price formed a support base above the $95 level against the US
Dollar. LTC price started a steady increase above the $98
resistance zone, similar to Bitcoin and Ethereum. The bulls were
able to push the price above the $100 resistance. A high is formed
near $102.90 and the price is now consolidating gains. It is
trading well above $98 and the 100 simple moving average (4 hours).
There is also a key bullish trend line forming with support near
$100 on the 4-hour chart of the LTC/USD pair. The trend line is
close to the 50% Fib retracement level of the upward move from the
$97.35 swing low to the $102.90 high. On the upside, immediate
resistance is near the $103 zone. The next major resistance is near
the $105 level. If there is a clear break above the $105
resistance, the price could start another strong increase. Source:
LTCUSD on TradingView.com In the stated case, the price is likely
to continue higher toward the $112 and $115 levels. Any more gains
might send LTC’s price toward the $120 resistance zone. Are Dips
Supported in LTC? If Litecoin price fails to clear the $105
resistance level, there could be a downside correction. Initial
support on the downside is near the $100 level and the trend line.
The next major support is forming near the $98 level or the 76.4%
Fib retracement level of the upward move from the $97.35 swing low
to the $102.90 high, below which there is a risk of a move toward
the $95 support. Any further losses may perhaps send the price
toward the $92 support. Technical indicators: 4-hour MACD – The
MACD is now gaining pace in the bullish zone. 4-hour RSI (Relative
Strength Index) – The RSI for LTC/USD is above the 50 level. Major
Support Levels – $100.00 followed by $98.00. Major Resistance
Levels – $105.00 and $112.00.
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