The price of Litecoin has increased by over 10% and is above $105 against the US dollar. In the near future, LTC may continue to rise towards the $120 resistance zone.

• Litecoin is showing positive signals from the $95 support zone against the US dollar.
• The price is currently above $105 and the 100 plain moving average (4 hours).
• A key bullish trendline is forming on the 4-hour chart of the LTC/USD pair with support at $101.50 (fed by Kraken data).
• The price may continue to rise towards the $120 level unless it breaks the $100 support.

Litecoin price is gaining bullish momentum

Over the past few days, Litecoin has gained momentum and outperformed Bitcoin and Ethereum. The LTC price has formed a base above the $80 level and has started a decent rally.

There was a break above the resistance levels at $88 and $95. The bulls even pushed the price above $100. There has been a clear move above the 76.4% Fib retracement level, which is from a high of $105.71 to a low of $77.00. A novel multi-week high of $112.49 was formed and the price is now consolidating its gains.

it peaked near $68.40 before starting a novel decline.

Litecoin is currently trading above $10 and the plain moving average of 100 (4 hours). A key uptrend line is also forming on the 4-hour chart of the LTC/USD pair with support at $101.50.

On the other hand, immediate resistance is located near the $112.50 zone. It is near the Fib extension level at 1.236, a sign of a move down from the high of $105.71 to the low of $77.00. The next major resistance is near the $115 level. If there is a clear break above the resistance at $115, the price could begin another mighty rally.

Source: LTCUSD on TradingView.com

In this case, the price will likely continue to rise towards the $120 and $122 levels. Any further increases could push the LTC price towards the resistance zone at $132.

Are inheritances supported in LTC?

If Litecoin price fails to overcome the resistance level at $105, a downward correction may occur. Initial downside support is near the $105 level.

The next major support is forming near the $100 level, below which there is a risk of a shift towards the $95 support. Any further losses could perhaps push the price towards the support at $88.

Technical Indicators:

4-Hour MACD – The MACD is currently gaining momentum in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level.

Main support levels – $105 and then $100.

Major resistance levels – $115 and $120.