- Litecoin is holding gains above the $92.00 support against the US Dollar.
LTC price is now trading below $100.00 and the 55 simple moving average (4 hours).
There is a key bearish trend line forming with resistance near $101.50 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
The pair could gain bullish momentum if it clears the $100.00 and $101.50 resistance levels.
The price of Litecoin remains stable above $92 versus the US Dollar, similar to Bitcoin‘s trend. If Litecoin manages to surpass the resistance at $101.50, we may witness further growth.
Litecoin Price Analysis
Over the last several trading sessions, Bitcoin, Ethereum, Ripple, and Litecoin have experienced price fluctuations versus the U.S. Dollar. Previously, Litecoin faced hurdles in surpassing the $106 resistance mark and initiated a downward trend as a result.
Below the $102 and $100 marks, there was a noticeable drop in price. However, the buyers managed to defend the crucial support at $93.50. A new low was created around $93.46, but now the price is making an effort to rise again. The price has begun to climb above the $95 threshold.
The 23.6% Fibonacci resistance level, which is a key level during a downtrend from the peak of $106.02 to the trough of $93.46 in Litecoin’s price action, was breached. At present, Litecoin’s value hovers below the $100.00 mark and falls short of the 55-simple moving average (SMA) on the 4-hour chart.
The price has encountered obstacles around the $100 mark or the 50% Fibonacci retracement point of its decline from the $106.02 peak to the $93.46 trough. The next notable resistance lies at approximately $101.50 or along the trendline.
Moving past the $101.50 mark with clarity could propel the price towards the $106 region. The next significant barrier lies around $110. Should prices continue to rise, they may even reach the $120 point.
On the negative side, the stock’s initial support lies around $95.00. A more significant support can be found close to $93.50. Should the price fall below this support, it may rapidly drop towards $88.00 in the short term.
According to the graph, Litecoin’s value is currently lower than $100.00 and the 4-hour 55 moving average. In general, a bullish trend may develop if the price surpasses the resistance at $100.00 and $101.50.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now losing pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.
Key Support Levels – $95.00 and $93.50.
Key Resistance Levels – $100.00 and $101.50.
Read More
- Uncovering the Mystery of Red King Players in Clash Royale – What Reddit Users Have to Say
- UFO PREDICTION. UFO cryptocurrency
- The Last Epoch Dilemma: Confronting the Gold Dupe Crisis
- Finding Resources in Palworld: Tips from the Community
- BONE PREDICTION. BONE cryptocurrency
- Skull and Bones: Navigating the Quest for Extra Teeth in the Game
- Discovering the Infinite Power: The Abiotic Factor that Could Change Everything
- AAVE PREDICTION. AAVE cryptocurrency
- The 10 Best Movies of 2024 (So Far)
- Gaming News: Like a Dragon: Infinite Wealth’s Dondoko Island Takes Expansion to New Heights
2024-04-11 06:15