Litecoin Breaks Above $90—Is a Push Toward $100 Next?
After recovering from the tariff-induced selloff, Litecoin (LTC) surged above $63 on April 7, marking the beginning of a potential long-term uptrend. The bullish momentum solidified as LTC broke through key resistance levels, including:
• $80 (now turned support)
• The 50-day EMA at $86
• The 100-day EMA at $92
On Tuesday, a bullish engulfing candle propelled LTC to $92, its highest level in 42 days. The next major resistance lies at $93, reinforced by the 200-day EMA.
Technical Momentum Builds
The Relative Strength Index (RSI) has moved into overbought territory, signaling growing bullish strength. If momentum continues, LTC may soon test the psychological $100 level, last visited in early March.
Futures Market Signals Growing Confidence
Open Interest (OI) in Litecoin futures surged 17.73%, suggesting a sharp increase in new long positions. This bullish sentiment is echoed by trading volume, which spiked 32.88% to $1.45 billion.
Notably, liquidation data reveals a short squeeze in progress:
• Short liquidations: $1.60 million
• Long liquidations: $370,000
This imbalance shows traders are increasingly betting on further upside.
Key Resistance: $92–$95 Supply Zone
According to IntoTheBlock’s In/Out of the Money Around Price (IOMAP) data, over 204,000 addresses purchased 6.83 million LTC between $92 and $95. If these holders choose to break even, Litecoin could face considerable selling pressure at this level.
However, if bulls can overcome this congestion zone, LTC could swiftly move toward $100.
Support Zones to Watch
In the event of a pullback, traders will likely eye $90, followed by potential demand clusters near $85 and $82, as identified by historical buying activity.
Key Levels:
• Resistance: $93, $95, $100
• Support: $90, $85, $82