- Litecoin value is at the moment buying and selling in a short-term uptrend however faces one final resistance stage.
- On-chain metrics are in favor of Litecoin and recommend the digital asset is poised for a breakout.
Litecoin is up by 17% for the reason that final native backside at $69 established on December 11. The digital asset has established a short-term uptrend and solely must crack one final resistance stage at $84 to intention for $100.
Litecoin value goals for $93 as bullish momentum will increase
On the 4-hour chart, Litecoin has fashioned an uptrend after establishing a number of greater lows and better highs. Moreover, bulls have conquered the 50-SMA and 100-SMA ranges as assist,
LTC/USD 4-hour chart
The subsequent hurdle in the best way of bulls is the resistance stage at $84 which has been examined a number of instances previously. A breakout above this level would shortly push Litecoin value in direction of $93 with the potential to intention for $100.
LTC IOMAP chart
The In/Out of the Cash Round Worth (IOMAP) chart exhibits nearly no resistance on the best way up with essentially the most important stage at $84 which supplies credence to the bullish outlook above. However, the IOMAP does point out Litecoin has lots of assist on the best way down from $80.
Nevertheless, the shortcoming from the bulls to carry the 50-SMA assist stage may shortly drive Litecoin price to not less than the 100-SMA at $78 and as little as $70 within the long-term if promoting strain continues mounting after the preliminary breakdown.