• Litecoin started a steady increase above $78 against the US Dollar.
• The pair could gain bullish momentum if it clears the $88 and $90 resistance levels.
• LTC price is facing resistance near the $88 level and could climb further if there is a clear move above $90.
Litecoin (LTC) Price Analysis
Litecoin has been steadily increasing against the US Dollar, trading above $85 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair. The pair could gain bullish momentum if it clears the $88 and $90 resistance levels.
On the upside, the price is facing resistance near the $88 level. A clear move above this level could push Litecoin’s price towards its next major resistance at around $95 – which is near to 1.618 Fib extension level of its downward movement from its swing high to low. The next major resistance sits near the $95 level after that. Any more gains might send Litecoin’s price towards the $100 mark.
On the downside, an initial support is near