Rally

Litecoin

Bitcoin

Resistance

Litecoin price is recovering higher from the $75.00 zone against the US Dollar. LTC could continue to rise if it clears the $84.00 resistance zone. 
<ul> 
 <li>Litecoin is showing positive signs from the $75 support zone against the US Dollar.</li> 
 <li>The price is now trading below $85 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair (data feed from Kraken).</li> 
 <li>The price could gain bullish momentum if it clears the $83-$84 resistance zone.</li> 
</ul> 
<h2 id="litecoin-price-aims-higher">Litecoin Price Aims Higher</h2> 
After a steady decline, Litecoin found support near the $75.00 resistance zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-bears-pushing-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-support-2940/" target="_blank" rel="noopener ">Ethereum</a>. LTC price started a recovery wave above the $78.00 and $80.00 resistance levels. 
It even cleared the 50% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The bulls even pumped the price above $82.00, but the bears were active near the 100 simple moving average (4 hours). 
There is also a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair. Litecoin is now trading below $85 and the 100 simple moving average (4 hours). 
On the upside, immediate resistance is near the $83.00 zone or the 61.8% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The next major resistance is near the $84 level. If there is a clear break above the $84 resistance, the price could start another strong increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-607148" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461" alt="Litecoin Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/Litecoin.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/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 $88.50 and $90.00 levels. Any more gains might send LTC’s price toward the $95.00 resistance zone. 
<h2 id="are-dips-supported-in-ltc">Are Dips Supported in LTC?</h2> 
If Litecoin price fails to clear the $84 resistance level, there could be a downside correction. Initial support on the downside is near the $80.00 level. 
The next major support is forming near the $77.80 level, below which there is a risk of a move toward the $75.00 support. Any further losses may perhaps send the price toward the $70.00 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 – $80.00 followed by $77.80. 
Major Resistance Levels – $83.00 and $84.00.

Litecoin Price Prediction: LTC Could Rally If It Clears This Barrier

Table of Contents

NewsBTC

Other articles published on May 9, 2024

Rakesh Sethia of HDFC AMC Highlights India as a Lucrative Market for Long-Term Crypto Investors: ...

Litecoin (LTC) Sees Breakout: Analyzing the Chances of a 27% Increase

Bitcoin at $61K: Are investors losing interest? THIS is a worrying sign

South Korean Court Sentences XRP Exchange Operator to 8 Years in Prison

Searching for the Next 100X Opportunity? Check These Prospective Altcoins

Floki, A Crypto Named After Elon Musk's Dog, Becomes Title Sponsor For An International Sports To...

Join our free newsletter for daily crypto updates!