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
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
