Litecoin Price Eyes Upside Break, Could Rally Towards $100 and $105 Levels

Litecoin is making an attempt to break above the $93 resistance level against the US Dollar, which could lead to a rally towards the $100 and $105 levels. The price is currently consolidating above $90 and the 100 simple moving average (4 hours), with a key contracting triangle forming with resistance near $92.50 on the 4-hour chart of the LTC/USD pair.

However, if the price fails to clear the $95 resistance level, there could be a fresh decline towards the $85 or $80 support levels. Technical indicators show that the MACD is gaining pace in the bullish zone and the RSI for LTC/USD is above the 50 level.

Litecoin $83.44

-4.59%

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