Litecoin Price Analysis: Indicators Point to Fresh Increase to $100

• Litecoin is trading below the $90 resistance zone against the US Dollar.
• It is forming a contracting triangle with resistance near $89.20 on the 4-hour chart of the LTC/USD pair.
• The price could start a decent increase if it clears the $92 resistance zone.

Litecoin Price Analysis

Litecoin (LTC) settled below the $90 resistance zone against the US Dollar and is now trading below $90 and the 55 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $89.20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).

Price Outlook

On the upside, there is strong resistance near the $92 level for Litecoin price. A clear move above this level could pump it towards to $95 or even up to$98. The next major resistance could be at around$100. On downside, there are two key supports at around$86.60 and $85.00 levels respectively. If these supports fail to hold, then Litecoin price may decline further towards around$80 in short term.

Technical Indicators

The MACD for LTC/USD is now losing pace in bearish zone while RSI for LTC/USD is now below 50 level indicating that prices may fall further if supports fail to hold at current levels..


Overall, Litecoin price could continue to move down if it stays below the $92 resistance zone in coming days ahead. The immediate support lies around$86 mark while major support lies around$85 mark and failure of these support can cause further decline towards$80 in short term..

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