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litecoin price analysis

Litecoin : Price Analysis April 5

LTC/USD

Litecoin (LTC) broke out of the overhead resistance at $91 on Apr. 03 but faced profit booking close to $100 levels. We expect $91 to act as a stiff resistance. The RSI had risen deep into the overbought territory, hence, we had proposed traders close their complete long positions in the previous analysis.

LTC/USD

The pullback in the LTC/USD pair took support at $80.4193 and is currently again trying to breakout of $91. If the pair breaks out and sustains above $91, it will be on target to reach $159. Nevertheless, if the bears defend the overhead resistance, a fall to $77 is probable. We shall wait for another buy setup to form before suggesting long positions once again.

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