{"id":495,"date":"2024-10-16T06:00:15","date_gmt":"2024-10-16T06:00:15","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/litecoin-ltc-jumps-10-can-the-bulls-fuel-a-bigger-rally\/"},"modified":"2024-10-16T06:00:15","modified_gmt":"2024-10-16T06:00:15","slug":"litecoin-ltc-jumps-10-can-the-bulls-fuel-a-bigger-rally","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/litecoin-ltc-jumps-10-can-the-bulls-fuel-a-bigger-rally\/","title":{"rendered":"Litecoin (LTC) Jumps 10%: Can the Bulls Fuel a Bigger Rally?"},"content":{"rendered":"<p><em>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<ul>\n<li>Litecoin is showing positive signs from the $65 support zone against the US Dollar.<\/li>\n<li>The price is now trading above $70 and the 100-hourly Simple Moving Average.<\/li>\n<li>There 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).<\/li>\n<li>The price is up over 10% and might continue to rise if it clears the $72.80 resistance zone.<\/li>\n<\/ul>\n<h2>Litecoin Price Gains Bullish Momentum<\/h2>\n<p>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 and Ethereum.<\/p>\n<p>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<p>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<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-648231 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Litecoin.png?resize=1024%2C478\" alt=\"Litecoin Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>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<h2>Are Dips Supported in LTC?<\/h2>\n<p>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<p>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<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is above the 60 level.<\/p>\n<p>Major Support Levels \u2013 $71.00 followed by $67.50.<\/p>\n<p>Major Resistance Levels \u2013 $72.80 and $80.00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&hellip;<\/p>\n","protected":false},"author":1,"featured_media":496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[561],"tags":[563,562,564,565],"class_list":["post-495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ltc","tag-litecoin","tag-ltc","tag-ltc-usd","tag-ltc-usdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=495"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/496"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}