Litecoin price is up over 10% and it broke the $80.00 resistance against the US Dollar. LTC is consolidating gains and dips are likely to be limited below $78.00 and $76.50.<\/p>\n
In the past few days, there was a strong increase in bitcoin, Ethereum, ripple and litecoin against the US Dollar. LTC price outperformed recently with a major rally above the $75.00 resistance level.<\/p>\n
The bulls gained strength, resulting in a break above the $80.00 resistance level. The price climbed over 10% and it even cleared the $82.00 resistance. There was also a break above a contracting triangle with resistance near $75.10 on the 4-hours chart of the LTC\/USD pair.<\/p>\n
Litecoin price traded to a new monthly high near $84.12 and settled above the 100 simple moving average (4-hours). It is now consolidating gains above the $80.00 level. An initial support is near the $80.40 level. It is close to the 23.6% Fib retracement level of the recent increase from the $Q68.35 swing low to $84.12 high.<\/p>\n<\/p>\n
If there is an extended decline, the price could test the $76.50 support level (the recent breakout zone). The 50% Fib retracement level of the recent increase from the $Q68.35 swing low to $84.12 high is also near $76.24.<\/p>\n
On the upside, the $83.50 and $84.00 levels are immediate hurdles. The main resistance is near $85.00, above which the price might surge towards the $90.00 level.<\/p>\n
It seems like dips might be limited in litecoin below the $80.00 level. The first support sits at $78.0, but the main buy zone is likely forming near the $76.50 level.<\/p>\n
Any further losses may perhaps send the price towards the $72.00 support. The next major support is near a connecting bullish trend line at $68.30 on the same chart.<\/p>\n
Technical indicators:<\/p>\n
4-hours MACD The MACD is slowly losing momentum in the bullish zone.<\/p>\n
4-hours RSI (Relative Strength Index) The RSI for LTC\/USD is currently correcting lower from the 70 level.<\/p>\n
Major Support Levels $78.00 followed by $76.50.<\/p>\n
Major Resistance Levels $85.00 and $90.00.<\/p>\n
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See original here:<\/p>\n
Charted: Litecoin Is Outperforming Major Altcoins, Why Dips Remain Attractive - NewsBTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin price is up over 10% and it broke the $80.00 resistance against the US Dollar. Continue reading