Litecoin Price Analysis
- Litecoin (LTC) started a steady increase above $85 against the US Dollar.
- There is a key bearish trend line forming with resistance at $92 on the 4-hours chart of the LTC/USD pair.
- The price could gain bullish momentum if it clears the $92 and $95 resistance levels.
Positive Signs Above $85
Litecoin price is showing positive signs above $85 against the US Dollar, similar to bitcoin. LTC price could climb further if there is a clear move above $92. In the past few sessions, there were mostly positive moves in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $85 level and started a fresh increase. There was a clear move above the $88 and $90 resistance levels. During the increase, there was a break above the 50% Fib retracement level of the downward move from the $96.11 swing high to $85.66 low. It even cleared the $90 resistance zone. The price is now trading above $88 and the 55 simple moving average (4-hours).
Key Resistance Levels
On the upside, Litecoin is facing resistance near the $92 level. There is also a key bearish trend line forming with resistance at this point on its 4-hours chart of its LTC/USD pair. The trend line is near to 61.8% Fib retracement level of its downward move from its swing high of 96.11 to 85.66 low support mark it previously made prior to this rise in value recently seen by Litecoin’s USD pairing over recent days and weeks just gone by now in March 2023 so far.. A clear move above this point could push its price towards 95 dollars before any attempted break out higher can be made towards 100 dollars as its next major resistance sits right around that figure in terms of value worth for Litecoin right now today in trade markets across global exchanges worldwide open currently 24 hours per day 7 days per week all year round no matter what!
Downside Support Levels
On downside potential pullback scenarios should Litecoin fail to break out higher soon however still remain possible according to current chart analysis data seen here today for sure too though thankfully overall an initial support lies around 88 dollar range followed by major one at 85 dollars which should provide some sort solid defence barrier against any unwanted bearish sell off pressure or movement downwards again anytime soon either yet too until further notice anyway for sure also then now still as well since then once again so far too as well here again still today just like that then now too which would be great news indeed for all holders currently off course no doubt about that first & foremost anyway right?
Conclusion
Overall conclusion drawn from looking at current technical analysis data provided here today suggests that Litecoins USD pairing remains poised with potential upside breakout opportunities towards key barriers waiting up ahead such as 92 & 95 dollars before any real attempts higher can be made towards breaking out beyond 100 major psychological barrier as views last main target before any other real attempts can be made on testing much higher values than those listed here before eventually maybe even someday breaking out beyond 200 dollar range perhaps sooner rather than later eventually probably sometime down road way after mid 2023 or so most likely sometime not long after then too most likely still hopefully sooner rather than later depending on market conditions prevailing during that time frame at least somewhat hopefully anyway overall for sure either way still though eventually regardless what happens next regarding Litecoins USD pairing either way clearly both sides remain cautiously optimistic overall about future prospects awaiting them within coming months ahead so stay tuned for more updates about same along way online tomorrow once again folks!