Forecasting the Future Value of #Litecoin : A Possible Rally to $120


Litecoin is up 10% and beyond $105 versus the US Dollar. LTC may surge toward $120 resistance soon.


At $95 versus the US Dollar, Litecoin is showing promise.


The price is over $105 and the 100 SMA.


On the 4-hour LTC/USD chart, a bullish trend line with support around $101.50 is formed.


Price may increase to $120 until it breaches $100 support.


Litecoin Price Rises
Litecoin surged ahead of Bitcoin and Ethereum in recent days. LTC price created a base over $80 and rose steadily.


A break over $88 and $95 resistance occurred. Bulls pushed it over $100. The negative move from the $105.71 swing high to the $77.00 low was well over the 76.4% Fib retracement line. The stock is holding gains after hitting a multi-week high at $112.49.


Above $10 and the 100 SMA (4 hours), Litecoin is trading. On the 4-hour LTC/USD chart, a bullish trend line with support around $101.50 is formed.


Resistance at $112.50 is imminent on the upswing. It is around the 1.236 Fib extension level of the $105.71 swing high to $77.00 low decline. Near $115 is the next significant resistance. A decisive breach over $115 resistance might spark another significant rise.


In this situation, the price may rise to $120 or $122. More advances might push LTC toward $132 barrier.


A negative correction may occur if Litecoin fails to break $105 barrier. Initially, downside support is at $105


Near $100 is the next key support, below which a decline to $95 is possible. Further losses might push the price around $88.


The technical indications


The 4-hour MACD is rising in the positive zone.


4-hour RSI – RSI for #LTC/USDT is over 65.


Major Support Levels: $105, $100.


Key Resistance Levels: $115, $120.$LTC