Litecoin: Bulls May Seek Re-Entry Here Amid Market Optimism

1. LTC attempts to recover following the April 26 bull trap.
2. Litecoin swayed in a neutral region during this publication.
3. The futures market displayed mixed signals, but Bitcoin can clarify things.

Litecoin failed to continue its recoveries on April 26 after Bitcoin encountered rejection near the $30,000 mark. The retracement saw Litecoin falling beneath the psychological zone of $90, though an ascending trend-line foothold checked the dip.

While writing this news, Litecoin’s price met another rejection at the $90 zone, making this mark a crucial resistance level. Meanwhile, LTC’s fate lies on BTC. Bitcoin reclaiming the $30,000 zone might support Litecoin to clear overhead obstacles and regain the $90 region. Moreover, that can see the alt on potential gains.

Can LTC Bulls Reclaim $90?

Source – TradingView

According to the 4 hour chart, the OBV surged, confirming soaring demand for Litecoin over the last few days. Also, the RSI plunged before recovering toward neutral territory during this publication. That confirmed improved buying momentum within the last few hours, though the market structure suggested that prices might move in either direction.

Nonetheless, Bitcoin’s potential moves to $30,000, which would see Litecoin closing beyond $90. Continued upsides from the psychological mark might welcome trend continuation, taking LTC towards the $103.05 bearish order block. Such developments mean Litecoin might present a lucrative buying opportunity beyond $90.30, eyeing $103.05.

Nonetheless, the imbalances at $95.78 – $99.71 might ensure resistance to the potential rally. Meanwhile, breaching beneath the ascending trend-line and support of $84 could expose LTC to massive selling. The dip might push the alt to $80. Nevertheless, Litecoin Bulls have all it takes to play the game in their favor.

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Tags: Crypto marketcryptocurrencyLitecoin