莱特币在看涨势头中飙升至 105 美元上方，目标为 120 美元

Litecoin price surged over 10% against the US dollar, surpassing $105, indicating bullish momentum. A key bullish trend line with support at $101.50 suggests further upside potential, with resistance levels at $115 and $120. Immediate support remains at $105, with additional support at $100 and $95.

Litecoin Surges Past $105, Poised for Further Gains

Litecoin (LTC), a prominent cryptocurrency, has demonstrated a remarkable upward trajectory, rising over 10% against the US Dollar to trade above $105. This surge has positioned LTC favorably for a potential continuation towards the $120 resistance zone in the near future.

From a technical standpoint, LTC has established a positive trend emanating from the $95 support zone against the US Dollar. The price has ascended beyond both $105 and the 100 simple moving average (4 hours), indicating a bullish momentum. Analysis of the 4-hour chart of the LTC/USD pair reveals a crucial bullish trend line forming with support situated at $101.50.

Unless the $100 support level is breached, the price is anticipated to continue its upward trajectory towards $120.

Bullish Momentum Propels LTC

In the preceding days, LTC has exhibited impressive growth, surpassing both Bitcoin and Ethereum in performance. The price of LTC has solidified a base above $80, initiating a significant surge.

Buoyed by strong buying pressure, LTC surmounted the $88 and $95 resistance levels, with bulls propelling the price above $100. Notably, the price breached the 76.4% Fib retracement level of the downward movement from the $105.71 swing high to the $77.00 low. A fresh multi-week high was established at $112.49, with LTC subsequently consolidating its gains.

Despite a recent correction that saw LTC retreat from its local high of $112.49, the cryptocurrency has maintained its momentum, trading comfortably above $105. The 100 simple moving average (4 hours) and the crucial bullish trend line at $101.50 further support LTC's upward trajectory.

Resistance Levels in Focus

On the upside, LTC faces immediate resistance near the $112.50 zone, which coincides with the 1.236 Fib extension level of the downward move from the $105.71 swing high to the $77.00 low. The next significant resistance is located around the $115 level. A decisive break above this level could trigger another substantial surge in LTC's price.

Should LTC successfully overcome these resistance levels, it is likely to continue its ascent towards the $120 and $122 levels. Further gains could potentially push LTC's price towards the $132 resistance zone.

Support Levels Provide Cushion

In the event that LTC fails to clear the $105 resistance level, a downward correction may ensue. Initial support on the downside is anticipated near the $105 level. The next major support level is situated at $100, below which the price risks a move towards the $95 support. Significant losses could potentially drive the price down to the $88 support.

Technical Indicators Point to Bullish Sentiment

Technical indicators reinforce the bullish outlook for LTC. The 4-hour MACD (Moving Average Convergence Divergence) is exhibiting increasing momentum in the bullish zone, while the 4-hour RSI (Relative Strength Index) for LTC/USD is above the 65 level, indicating strong buying pressure.

Conclusion

Litecoin's recent surge has positioned it favorably for continued gains. The bullish trend line, coupled with the positive technical indicators, suggests that LTC is poised to challenge higher resistance levels. While the potential for a downside correction exists, the overall outlook for LTC remains positive, with a range of support levels providing a cushion against significant declines. Investors are advised to closely monitor the price action and key resistance and support levels to make informed trading decisions.