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HomeAltcoin NewsLitecoin (LTC) Price Analysis: Bulls Aim Key Upside Break

Litecoin (LTC) Price Analysis: Bulls Aim Key Upside Break

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  • Litecoin is eyeing an upside break above the $115 resistance against the US Dollar.
  • LTC price is now trading above $100 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $106 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could start a fresh increase if it manages to clear the $115 resistance zone.

Litecoin price is still below $115 against the US Dollar, similar to bitcoin. LTC price could decline heavily if there is a close below the $100 level.

Litecoin Price Analysis

This week, there was a decent increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $100 support level.

It traded as low as $100.90 before starting a fresh increase. There was a clear move above the $105 resistance level and the 55 simple moving average (4-hours). The price climbed above the 50% Fib retracement level of the key decline from the $116 swing high to $97 swing low.

The price even spiked above the $110 level. It is now consolidating near the 76.4% Fib retracement level of the key decline from the $116 swing high to $97 swing low.

There is also a key bullish trend line forming with support near $106 on the 4-hours chart of the LTC/USD pair. On the upside, an initial resistance is near the $112 level. The first major resistance is near the $115 level. To start a fresh increase, the price must clear $114 and $115.

In the stated case, the price could rise towards $125. The next key resistance could be $132.  If there is no upside break, the price might correct lower below $108.

On the downside, an immediate support is near the $106 level. The next key support is near the $100 level. If there is a downside break below the $100 support, the price could continue to move down towards the $92 level.

Litecoin (LTC) Price
Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading above $105 and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it manages to clear the $115 resistance zone.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.

Key Support Levels – $106 and $100

Key Resistance Levels – $112 and $115.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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