Daily Analysis for Currency #Litecoin (LTC/USDT) – Are We on the Verge of a Rise?
Current Price: 98.54 USDT (+3.12%)
Time Frame: Daily
Technical Outlook: Potential Rise Conditional on Breaking the Upcoming Resistance
The price has strongly rebounded from the MA20 support at 94 USDT, showing buying momentum.
We are approaching a significant resistance at 100.73 – breaking it with a daily close would enhance the chance of a rise.
RSI at 52.9 = Neutral Zone, giving the price room to move upward.
MACD is in a phase of negative weakness, but there are signs of a positive reversal soon.
Bollinger Bands: The price is moving in the upper part of the band, indicating the continuation of the upward trend if the resistance is broken.
Monitoring Levels:
Breaking 100.7 = Target 1: 107
Target 2: 110
Failure to Break = Potential Support: 94 then 92.3 USDT
Conclusion:
> A rise is likely provided that we exceed 100.73 with a daily close and strong trading volume.
