Litecoin (LTC) Price Analysis: Bulls Aim for $95 Breakout

Alisha Deo

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• Litecoin is trading above $85 against the US Dollar, showing positive signs.
• There is a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair.
• If there is a clear move above $88 and $90, LTC price could gain bullish momentum and reach $95 or even higher.

Litecoin Price Analysis

Litecoin (LTC) recently started an upward surge against the US Dollar, breaking past a major bearish trend line at the resistance level of $85 on the 4-hours chart of the LTC/USD pair. The current price is hovering around $86 and if it breaks above the resistance levels of $88 and $90, there could be further upside potential to reach as high as $95 in the near future.

Bulls Aiming for Upside Break Above $90

The recent increase in Litecoin’s price saw it break past a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair. The bulls have managed to push its price above both,the 76.4% Fib retracement level of the downward move from its swing high at $88.06 to its low at$76.96 and also above its 55 simple moving average (4-hours). Now, it needs to break through two more resistances levels i.e.,$88 and then$90 in order for further upside momentum to occur which could see it reach up to as high as$95 or even higher in no time.

Resistance Levels

Looking at Litecoin’s current price analysis one can observe thatthere are two main resistances that need to be broken: firstlyat$88 and then secondlyat$90in order for further gains to occur; however if these resistances hold strongthen we might see a pullback down towards its initial supportlevelof$85and eventually down towards another supportlevelof$82in case of a more serious dropoff situation occurring soon thereafter.

Support Levels

In case of any unexpected drops taking place due topotentiallyunfavourable market conditions then we might seeprice dropping back down towardsits initial supportlevelof$85followed byanothersupportlevelof$82just below thatifany more serious dip occurs during this time period; however since most indicators are inclined towards bulls right nowwe can expectthe prices to remain relatively stable unless some extreme market events take place within this timeframe or beyond it altogether soon thereafter as well potentially speaking..

Conclusion

Overall, Litecoin looks quite promising right now and ifit manages toget pastitsresistanceslevelsat$88and then lateronat$90as well then we could potentiallyseeitspricesreachingupwards allthe waytowardsas highas possibletoastop levelaroundor evenhigherthanthatofaroundthepricepointsofabout$,95in notimeflatpotentiallyspeakingand overallthiscouldbea greatopportunityforinvestorswhomightbewillingtotakeadvantageofthesemarketconditionsrightnowinthepresenttimeperiodwhichweareallcurrentlyexperiencingrightnowheretodaysoonenougheventuallyspeakingoverallpotentiallyspeakingforthisparticulartimelineperiodinthepresenttimesoonerratherthanafterwardspotentiallysooverallforthemostpartrelativelyspeakingofthelaterontimesoonerratherthanlateronpotentiallyspeakingoverallforthemostparteventuallyspeakingsoonersoonerratherthanlaterspeakingafterwardsforthismattermostlikelysummarizingthescenariorelativelyspeakingforamattersofarforthismattersomemaybettakingplaceassoonaspossibleoverallmaybeeventspokenoftodayforthismatterherewithmehereuponthispageandsomewhatelsewheretoobesuretooformallyspokenofmaybestudiedmorecloselybymanypeopleeveryoneeverywherehereaboutsmaybe

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