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Why LTC Could Hit $100 and Outperform Bitcoin

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Litecoin worth began a gentle improve above the $65 resistance towards the US Greenback. LTC is at present rising and would possibly rally additional in the direction of the $100 degree.

  • Litecoin began a robust improve above the $55 and $65 ranges towards the US Greenback.
  • The value is now buying and selling above $65 and the 100 easy shifting 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 Value Outperforms Bitcoin

Previously few days, litecoin worth noticed an honest improve above the $50 degree towards the US Greenback. LTC worth 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 shifting 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 assist ranges.

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

It stayed above the 50% Fib retracement degree 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 degree.

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 may begin a robust improve. Within the acknowledged case, the value is more likely to proceed larger in the direction of the $85 and $90 ranges. Any extra positive aspects would possibly ship ltc worth in the direction of the $100 resistance zone.

Dips Restricted in LTC?

If Litecoin worth fails to clear the $77.50 resistance degree, there may very well be one other pullback. An preliminary assist on the draw back is close to the $71.20 degree.

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

Technical indicators:

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

4-hours RSI (Relative Energy Index) – The RSI for LTC/USD is at present above the 50 degree.

Main Help Ranges – $71.20 adopted by $68.00.

Main Resistance Ranges – $77.50 and $85.00.

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