Litecoin price is up over 10% and it broke the $80.00 resistance against the US Dollar. LTC is consolidating gains and dips are likely to be limited below $78.00 and $76.50.
Litecoin started a strong increase above the $75.00 and $80.00 levels against the US Dollar. The price traded to a new monthly high near $84.12 and settled above the 100 simple moving average (4-hours). There was a break above a contracting triangle with resistance near $75.10 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). The price could correct in the short-term, but the bulls are likely to remain active near $78.00 and $76.50. Litecoin Price Rallies Another 10%
In the past few days, there was a strong increase in bitcoin, Ethereum, ripple and litecoin against the US Dollar. LTC price outperformed recently with a major rally above the $75.00 resistance level.
The bulls gained strength, resulting in a break above the $80.00