Litecoin (LTC) breaks above $75 as price targets $90; Here are levels to watch

• The price of LTC is showing strength as the price bounces off a weekly low of $50 and is trending higher, bringing some relief to the bulls.
• LTC’s price continues to look strong as the bearish sentiment for the market continues and things look uncertain for most traders and investors.
• LTC price rallies high on the intraday period as the price moves towards $90 above the 50 and 200 exponential moving averages (EMA).

Litecoin (LTC) price has held above $60 and is showing good bullish signs for a rally to $90-$100 highs if market conditions remain supportive for prices. Since many after a large dump of the Bitcoin (BTC)Keeping an eye out for the lower price, Bitcoin (BTC) price rallied from $15,500 as the price surged to a high of $16,500, leaving bears on the sidelines as Litecoin (LTC) price gains momentum in the rally. The price action Litecoin (LTC) has shown of late has been encouraging compared to many altcoins struggling to survive. The domino effect of the FTX saga and other major investors involved has brought the market to a standstill as the market is yet to make a major move after the past few weeks. (Binance data)

Litecoin (LTC) price analysis on weekly chart

The past few days have not been the best of times for most crypto traders and investors as many worried about where the market might be headed after so much turmoil in the crypto space as many altcoins struggled to show strength, and their strength lost vital support to survive.

The current uncertainty surrounding the market has made traders and investors hesitant to buy altcoins as there is no certainty that they will erupt any time soon.

LTC’s price has been a standout performer of the market as prices continue to show penetrating strength holding well above $60 despite the ongoing FUD (fear of uncertainty and doubt). LTC saw its price trade in a region of $60 on the weekly chart, but the price rallied from that region to a rally high of $80, showing great strength. LTC’s price bumped up Resistanceto trade higher in a $90-$100 region. LTC price needs to break above $80 for more signs of a rally.

Weekly resistance for LTC price – $80.

Weekly support at the price of LTC – $60.

Price analysis of LTC on the daily chart (1D).

Daily LTC Price Chart | Source: LTCUSDT on Tradingview.com

LTC’s price remains considerably strong on the daily timeframe as the price is trading above the $70 support after separating well from its daily range move showing some great price action sloping up into a $80 region .

If LTC price breaks out and sustains above $80, we might see more rallies for LTC price into a $90-$100 region; A break below a $70 region would send the price back into a $60 region.

Daily resistance for LTC price – $80.

Daily LTC price support – $75-$70.

Featured image by zipmex, charts by Tradingview