{"id":14140,"date":"2024-10-16T05:08:16","date_gmt":"2024-10-16T05:08:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14140"},"modified":"2024-10-16T05:08:16","modified_gmt":"2024-10-16T05:08:16","slug":"litecoin-ltc-jumps-10-can-the-bulls-fuel-a-bigger-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14140","title":{"rendered":"Litecoin (LTC) Jumps 10%: Can the Bulls Fuel a Bigger Rally?"},"content":{"rendered":"

Litecoin price is gaining pace above the $70.00 level against the US Dollar. LTC could continue to rise if it clears the $72.80 resistance zone.<\/em><\/p>\n

Litecoin is showing positive signs from the $65 support zone against the US Dollar.
\nThe price is now trading above $70 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $68.00 on the hourly chart of the LTC\/USD pair (data feed from Kraken).
\nThe price is up over 10% and might continue to rise if it clears the $72.80 resistance zone.<\/p>\n

Litecoin Price Gains Bullish Momentum<\/h2>\n

After forming a base above $65, Litecoin started a fresh increase. LTC price broke the $68 and $70 resistance levels to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price gained over 10% and even cleared the $72 level. A high was formed at $72.74 and the price is now consolidating gains. It is stable above the 23.6% Fib retracement level of the upward move from the $65.29 swing low to the $72.74 high.<\/p>\n

Litecoin is now trading above $70 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $68.00 on the hourly chart of the LTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $65.29 swing low to the $72.74 high.<\/p>\n

<\/a><\/p>\n

On the upside, immediate resistance is near the $72.00 zone. The next major resistance is near the $72.80 level. If there is a clear break above the $72.80 resistance, the price could start another strong increase. In the stated case, the price is likely to continue higher toward the $75.50 and $78.00 levels. Any more gains might send LTC\u2019s price toward the $80.00 resistance zone.<\/p>\n

Are Dips Supported in LTC?<\/h2>\n

If Litecoin price fails to clear the $72 resistance level, there could be a downside correction. Initial support on the downside is near the $71.00 level.<\/p>\n

The next major support is forming near the $69.00 level, below which there is a risk of a move toward the $67.50 support. Any further losses may perhaps send the price toward the $65.00 support.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is above the 60 level.<\/p>\n

Major Support Levels \u2013 $71.00 followed by $67.50.<\/p>\n

Major Resistance Levels \u2013 $72.80 and $80.00.<\/p>","protected":false},"excerpt":{"rendered":"

Litecoin price is gaining pace above the $70.00 level against the US Dollar. LTC could continue to rise if it clears the $72.80 resistance zone. Litecoin is showing positive signs from the $65 support zone against the US Dollar. The price is now trading above $70 and the 100-hourly Simple Moving Average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":14141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14140"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14140"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14141"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}