Litecoin Up 9% Daily, Next $100? (LTC price analysis)

Litecoin continues to rise while completely ignoring the current bear market. Could this be the start of a broader recovery?

Key support levels: $74, $64

Key resistance levels: $95 and $105

Litecoin price action is close to erasing several losses seen throughout the ongoing bear market, and it is about to test another critical resistance at $95. The bulls seem to be in complete control as of this writing.

Sellers disappeared, failing to hold LTC below $74, which drove the price higher.

Charts by TradingView

Technical indicators

Trading volume: Volume has increased since LTC crossed $60. Since then, buyers have had the upper hand, even in the last few days.

RSI: The daily RSI is curved upwards and may re-enter the overbought area above 70 points. This is bullish.

MACD: The daily MACD remains positive despite the recent pullback to the key support level. This is strength.

LTCUSDT_2022-12-05_10-08-03
Charts by TradingView

prejudice

LTC is bullish.

Short term forecast for LTC price

Litecoin surprised the market again after turning the $74 level into support. Rallies of this kind are rare during a bear market, which calls into question the willingness of sellers to regain control.

The biggest challenge facing LTC in the next few days is the $95 resistance and the psychologically important $100 level. These targets are likely to offer a good fight before the price is allowed to rise.

Litecoin Up 9% Daily, Is The Next $100? (LTC Price Analysis) appeared first on CryptoPotato.

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