Litecoin Price Analysis April.4: Following 40% Weekly Gains, Could LTC Overcome $100?

Litecoin has been on an epic surge over the previous seven days rising by a complete of 40% to convey the present price as much as $86. This was adopted by reaching the legendary degree of $100 per coin yesterday. The cryptocurrency has seen an extra price enhance totaling 160% over the earlier 90 days.

Litecoin has now raced into the fifth place on the highest cryptocurrencies by market-cap worth because it at present holds a $5.3337 billion market cap, very near Bitcoin Cash ($5.338 B).

Looking on the LTC/USD 1-Day Chart:

  • Litecoin has been surging since reaching the underside of round $25 in December 2018. During February 2019, we are able to see that Litecoin had managed to interrupt above the 100-day transferring common line, which is a robust bullish sign. Since then, the market has continued to climb additional larger and has lately practically spiked towards the $100 degree, making a contemporary 9-month price excessive. Price motion has fallen barely since then, and is now trading round $86.
  • From above: The nearest degree of resistance now lies at $90 which is the July 2018 excessive. Above $90, additional resistance lies at $100 which accommodates a long run bearish 0.5 Fibonacci Retracement degree. If the consumers proceed above $100, additional resistance lies at $110, $119 and $125.
  • From under: Support now lies at $81 and $75. Beneath $70, additional help lies at $63, $52 and the 4-month previous ascending help development line.
  • The Stochastic RSI had lately been approaching the overbought circumstances. However, there may be nonetheless a while earlier than that is reached utterly. Watch crossly for a cross-over down.
  • The trading quantity has elevated considerably through the first days of April 2019.

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Looking on the LTC/BTC 1 Day Chart:

  • Taking a take a look at LTC/BTC, we are able to see that the coin has been trading inside the confines of a steep ascending price channel. During the latest trading session, LTC/BTC has damaged above this price channel and has met resistance at 0.017 BTC the place lies the bearish .886 Fibonacci Retracement degree.
  • From above: If the consumers break above the present resistance at 0.017 BTC, additional resistance lies at 0.0182 BTC and between 0.0196 BTC, and 0.02 BTC. Above 0.02 BTC additional resistance lies at 0.023 BTC.
  • From under: The nearest help lies at 0.016 BTC. Beneath this, additional help lies at 0.0154 BTC and the decrease boundary of the steep ascending price channel. Beneath the price channel, help lies at 0.0135 BTC and 0.0129 BTC.
  • The RSI has reached overbought circumstances as confirmed by barely lagging Stochastic RSI which signifies that the bullish momentum could also be overstretched.
  • The trading quantity has additionally elevated considerably to greater than double the common quantity.

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The submit Litecoin Price Analysis April.4: Following 40% Weekly Gains, Could LTC Overcome $100? appeared first on CryptoPotato.

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