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.
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.
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.