Litecoin market overview: LTC/USD path to $100 set as bulls outperform themselves
|- The next target is set at $100 but the question is Can the buyers hold the uptrend?
- The technical levels are still positive with the RSI 15-minutes still pointing upwards.
Litecoin has broken above $80.00 marking the beginning of a bullish trend. The next target is set at $100 but the question is Can the buyers hold the uptrend by defending the $80.00 level? Bitcoin surge yesterday has been linked to the widespread gains across the market. Cryptos like Litecoin, Bitcoin Cash and Ethereum extremely leveraged the surge by extending gains above key levels while some forming new 2019 highs.
Presently Litecoin is still trending higher above the rising trendline. It has formed at intraday high at $85 but retraced to the current $81.77. The technical levels are still positive with the RSI 15-minutes still pointing upwards and could re-enter the overbought region in the coming sessions. The path towards $100 has been set and only needs clearing. Apart from the trendline support, $80 will offer more support in addition to the 50 SMA 15’, the 61.8% Fib level and the 100 SMA 15’.
LTC/USD 15' chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.