With the Bitcoin value sustaining above the $70K mark, shut cousins like Litecoin are scaling new heights. Because the LTC value hits the fifth optimistic day, the uptrend continues to achieve momentum and should shortly surpass the psychological mark of $100.
Additional, the excessive anticipation across the Bitcoin halving is predicted to have a domino impact on altcoins like Litecoin. Due to this fact, the approaching months for Litecoin may very well be extraordinarily bullish; the LTC value prediction teases a bounce past $200.
Regardless of the LTC value pattern gaining momentum and volatility in 2024 on this bullish reversal, the altcoin manages to carry on to an uphill journey. The general value pattern is lifting off from the $80 mark or the 38.20% Fib stage.
With a fast V-shaped reversal, Litecoin exhibits a tweezer backside reversal, resulting in a 22% rise in per week. This leads the altcoin buying and selling value to $96.22, simply 4 factors wanting the $100 mark. With this, the intraday candle exhibits a better value rejection, reflecting an ongoing brawl at $100.
Additional, with the 106% rise within the intraday buying and selling quantity, the patrons actively help the bull run. Therefore, the sideline merchants anticipate a powerful breakout rally as soon as the LTC Value crosses the $100 mark.
Technical indicators:
RSI indicator: The bullish reversal in Litecoin led to a revival of relative energy, driving the every day RSI above the 50% line.
MACD Indicator: The MACD and sign strains replicate the rising demand, resulting in a pattern reversal with a optimistic crossover. Therefore, the momentum indicators replicate a dominant facet of bulls.
Will LTC Value Surpass $100?
Contemplating the general restoration momentum growing market-wide, the LTC value might simply exceed the $100 mark. Nonetheless, the sturdy provide above the psychological mark warns of a fast reversal if the patrons slip underneath the stable footing.
Optimistically, the uptrend can hit $113 for a brand new peak formation and $130 past that. Nonetheless, a retest of $100 breakout might delay the bullish targets.