Compass Investments

Bitcoin vs. Dollar

📌 Litecoin price forecast: LTC growth may extend to $120.

Litecoin prices have risen more than 10% and are trading above the $105 mark against the US dollar. At this point, LTC could continue to rise towards the $120 resistance zone. Litecoin

– Litecoin prices have risen more than 10% and are trading above the $105 mark against the US dollar. At this point, LTC could continue to rise towards the $120 resistance zone.

Litecoin is showing positive signs from the USD 95 support zone against the US dollar.

The price is currently trading above the $105 level and the 100 simple moving average (4-hour).

On the 4-hour chart of the LTC/USD pair (Kraken data), an important bullish trend line has formed with support at $101.50.

If the support level at $100 is not broken, prices may continue to rise to the $120 mark.

Litecoin has been gaining momentum and outperforming Bitcoin and Ethereum in recent days; LTC prices have formed a base above the $80 level and are starting to rise decently.

It has broken above the $88 and $95 resistance levels. Bullish sentiment pushed prices above $100, with prices clearly rising above the 76.4% Fib retracement level from the $105.71 high to the $77.00 low. A new multi-week high was formed at $112.49 and prices are now consolidating at that level.

The price hit a high around $68.40 and is currently continuing to fall.

Litecoin is currently trading above the 10 and 100 simple moving averages (4-hour); an important bullish trend line has also formed on the 4-hour chart of the LTC/USD pair with support at 101.50 USD.

The upper resistance line is located around 112.50 USD. It is near the 1.236 Fibo extension level of the downtrend from the $105.71 high to the $77.00 low. The next major resistance is around $115.00, a break above which could start a strong price rally again.

In this case, prices are likely to continue rising towards the $120 and $122 levels. Further growth could bring the LTC price to the $132 resistance zone.

Will LTC support the downside?

If the Litecoin price fails to overcome the $105 resistance level, a downward correction may begin. Initial support for the downtrend is near the $105 level.

The next major support is forming near the $100 level, below which the price risks heading towards support at $95. Further losses could take prices to the $88 support level.

Technical indicators.

4-hour MACD – The MACD is currently gaining momentum in a bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level.

Bitcoin

Bitcoin

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BTC 2.69%

Ethereum

Ethereum

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ETH 5.93%

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