The price of Litecoin has risen by more than 10% and is currently trading above $105 against the US Dollar. There is a possibility that LTC may continue to increase and reach the $120 resistance level in the near future.

Litecoin has shown positive signs from the $95 support area against the US Dollar. Currently, the price is above $105 and the 100 simple moving average on the 4-hour chart. There is also a bullish trend line with support at $101.50 on the LTC/USD pair. Unless the price drops below the $100 support level, it could continue to rise towards $120.

Recent Sees Bullish Movement

In the past few days, Litecoin has performed better than Bitcoin and Ethereum. After establishing a base above $80, LTC saw a significant increase. The price broke through the $88 and $95 resistance levels, and even surpassed $100. A new high of $112.49 was reached, followed by a consolidation of gains.

Resistance near the $112.50 and $115 levels may lead to further growth towards $120 and $122. If the price surges beyond $115, a strong uptrend could begin. Conversely, a failure to break through the $105 resistance could result in a pullback. The $100 support is crucial, as a breach could lead to a drop towards $95 or $88.

Indicators point towards a bullish trend for Litecoin. The MACD is in a bullish zone on the 4-hour chart, while the RSI for LTC/USD is above 65. Key support levels are at $105 and $100, with major resistance levels at $115 and $120.