- Litecoin price gaining huge momentum, currently maintains support above $125
- Major bullish trend line forming above $130 on the hourly chart.
- Litecoin now trading near $131.40 level, could soon break $135.00 barrier.
Litecoin has begun trending on the upside trend, signaling a major bull run after finding a strong support above $125 price. Hence, LTC price is likely to break above the $135 resistance.
Lately, Litecoin saw a sharp rise in the market, accelerating above Bitcoin, Ethereum, Ripple XRP to become stable against the US Dollar. After finding a crucial support above $125 price, LTC/USD trade pair has recently bounced back on the upside, rising above $130 price.
Looking at the hourly chart, LTC gained momentum on the upside trend of the market, touching the 100 and 50 simple moving average (4-hours).
LTC/USD trading pair is accelerating high in the market even above Bitcoin, Ethereum, Ripple XRP. Litecoin, as at press time, has tested the $131.40 level and it is currently moving high in the market.
After trading low around $129 level, the altcoin recently climbed above $131 resistance level with 12% added value in the last 24 hours, and it is moving close to $135 as it continues to trend high in the market.
At the moment, a unit of Litecoin trades for $131.36 against USD in the positive zone.
A resistance is near the $133.3 level, which is close to the 61.3% Fib retracement level of the previous decline from $136.34 high to $129.45 low.
If the upside momentum is maintained to give a break, a cross above the $135 barrier can be achieved. Furthermore, a successful close above $135 can initiate a rally with more momentum to trend above $140 and $145 resistance levels respectively.