spot_img
Monday, January 30, 2023
More
    HomeMarketWhy LTC Could Hit $100 and Outperform Bitcoin

    Why LTC Could Hit $100 and Outperform Bitcoin

    -


    Litecoin value began a gradual enhance above the $65 resistance towards the US Greenback. LTC is presently rising and would possibly rally additional in direction of the $100 degree.

    • Litecoin began a robust enhance 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 direction of the $100 resistance zone.

    Litecoin Worth Outperforms Bitcoin

    Prior to now few days, litecoin value noticed an honest enhance above the $50 degree towards the US Greenback. LTC value 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 help 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 value 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, a right away resistance is close to the $77.50 degree.

    Litecoin Price Outperforms Bitcoin

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

    Dips Restricted in LTC?

    If Litecoin value fails to clear the $77.50 resistance degree, there might be one other pullback. An preliminary help on the draw back is close to the $71.20 degree.

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

    Technical indicators:

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

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

    Main Help Ranges – $71.20 adopted by $68.00.

    Main Resistance Ranges – $77.50 and $85.00.



    Source link

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    spot_img

    Latest posts