Litecoin (LTC) Price Analysis: Could Reach $100 Soon!


  • Litecoin Price is struggling to break the $90 resistance zone against the US dollar.
  • There is a major contracting triangle forming with resistance near $89.20 on the 4-hour chart of the LTC/USD pair.
  • The price could increase significantly if it breaks above $92 and moves towards $95 or even $98.

Overview of Litecoin Price Analysis

Litecoin (LTC) has been trading below the key resistance level of $90 against the US Dollar. A major contracting triangle is forming with resistance near $89.20 on the 4-hour chart of the LTC/USD pair, indicating that there may be an increase in price if it breaks past this point. The next major resistance is expected to be around $92, and a clear move above this could lead to an increase in price towards $95 or even higher such as up to a potential high of $100.

Resistance Levels and Triangle Formation

On the upside, Litecoin (LTC) is facing strong levels of resistance at around $49 and then again at around $90. There is also a contracting triangle forming with its apex at just below these two levels, with its base set at roughly near the 61.8% Fibonacci retracement level from a downward move from the swing high of 91.46 to 85.13 low region. This suggests that if Litecoin (LTC) can break out of this triangle formation, it should experience a surge in prices which could potentially reach heights of up to 100 dollars per coin depending on market conditions.

Indicators Pointing Fresh Increase

Technical indicators are currently pointing towards fresh increases for Litecoin (LTC). The MACD indicator has been losing pace in bearish territory while RSI has dropped below 50; both these readings indicate that there could be further bearish pressure ahead which might result in prices dropping lower than those seen before but they also suggest that there may be some bullish momentum building up as well which could help push prices higher when combined with other factors such as news events and updates from projects related to Litecoin (LTC).

Key Support Levels

In terms of support levels, immediate support for Litecoin (LTC) can be found near 86.60 dollars followed by 85 dollars per coin respectively; breaking below either one would likely result in further losses being incurred by investors who are holding onto their positions for longer periods of time before cashing out once they have made profits or minimised their losses accordingly depending on how they view their investment outlook going forward into 2020 and beyond.