Litecoin

Bitcoin

Momentum

Resistance

Gains

Litecoin price is up over 10% and trading above $105 against the US Dollar. LTC could continue to rise toward the $120 resistance zone in the near term. 
<ul> 
 <li>Litecoin is showing positive signs from the $95 support zone against the US Dollar.</li> 
 <li>The price is now trading above $105 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair (data feed from Kraken).</li> 
 <li>The price could continue to rise toward the $120 level unless it breaks the $100 support.</li> 
</ul> 
<h2 id="litecoin-price-gains-bullish-momentum">Litecoin Price Gains Bullish Momentum</h2> 
In the past couple of days, Litecoin gained pace and outperformed <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-70k-2/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stays-bullish-3550/" target="_blank" rel="noopener ">Ethereum</a>. LTC price formed a base above the $80 level and started a decent increase. 
There was a break above the $88 and $95 resistance levels. The bulls even pushed the price above $100. There was a clear move above the 76.4% Fib retracement level of the downward move from the $105.71 swing high to the $77.00 low. A new multi-week high was formed at $112.49 and the price is now consolidating gains. 
top near $68.40 before it started a fresh decline. 
Litecoin is now trading above $10 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair. 
On the upside, immediate resistance is near the $112.50 zone. It is near the 1.236 Fib extension level of the downward move from the $105.71 swing high to the $77.00 low. The next major resistance is near the $115 level. If there is a clear break above the $115 resistance, the price could start another strong increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-600659" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461" alt="Litecoin Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Litecoin.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/LTCUSD/" target="_blank" rel="noopener nofollow">LTCUSD on TradingView.com</a> 
In the stated case, the price is likely to continue higher toward the $120 and $122 levels. Any more gains might send LTC’s price toward the $132 resistance zone. 
<h2 id="are-dips-supported-in-ltc">Are Dips Supported in LTC?</h2> 
If Litecoin price fails to clear the $105 resistance level, there could be a downside correction. Initial support on the downside is near the $105 level. 
The next major support is forming near the $100 level, below which there is a risk of a move toward the $95 support. Any further losses may perhaps send the price toward the $88 support. 
Technical indicators: 
4-hour MACD – The MACD is now gaining pace in the bullish zone. 
4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level. 
Major Support Levels – $105 followed by $100. 
Major Resistance Levels – $115 and $120.

Litecoin Price Prediction: LTC Rally Could Extend To $120

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