Join Our Telegram channel to stay up to date on breaking news coverage
The Litecoin price prediction escalates, but a break above $110 is expected to push the coin toward the resistance level of $120 in the coming trading sessions.
Litecoin Bullish Breakout Targets $120 Amid Market Uncertainty
Litecoin (LTC) demonstrates exceptional performance, setting itself apart from many other major assets. The LTC price displays a V-shaped recovery on the daily chart, indicating a potential breakout from a longstanding triangle pattern. This suggests a bullish trend, contrasting with the broader market’s cautious stance. Notably, Litecoin’s positive momentum stands out as it bounces back from a $77 support level seen in late March, successfully overcoming the recent market correction.
Litecoin Price Statistics Data:
- Litecoin price now – $105
- Litecoin market cap – $7.8 billion
- Litecoin circulating supply – 74.3 million
- Litecoin total supply – 84 million
- Litecoin Coinmarketcap ranking – #20
LTC/USD Market
Key Levels:
Resistance levels: $120, $125, $130
Support levels: $80, $75, $70
LTC/USD is seen trading around the resistance level of $105 after touching the daily high of $106.47 during the European session today. However, touching the daily high is a move that could easily pave the way for gains above $110 and toward $115 resistance levels. Therefore, if the 9-day moving average crosses above the 21-day moving average, the market may show that the bullish grip is getting stronger.
Litecoin Price Prediction: What to Expect from Litecoin (LTC)
The Litecoin price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from the low of $92.89. This shows that buyers may continue to have the upper hand in the price movement and could easily push the coin toward the potential resistance levels of $120, $125, and $130. In other words, if the buying action fails to break above the upper boundary of the channel, the coin could instead settle for consolidation.
Nevertheless, any breakout above the upper boundary of the channel could have an impact on the price. Furthermore, it is about time buyers increase their confidence in the recovery because $110 is still achievable. Meanwhile, if the bears bring the coin below the moving averages, the support levels of $80, $75, and $70 may be reached.
LTC/BTC Soars to the North
Against Bitcoin, the Litecoin price remains above the 9-day and 21-day moving averages as the 9-day MA is ready to cross above the 21-day MA. Meanwhile, if the market price eventually remains and closes above moving averages, traders might expect a long-term bullish movement.
On the other hand, any bearish movement toward the lower boundary of the channel may likely meet the major support at 1200 SAT before falling to 1100 SAT and below while the buyers may need to push the market to the potential resistance at 1700 SAT and above.
Nevertheless, @Sean0c3 shared with his followers on X (formerly Twitter) his analysis indicating that $LTC appears poised to finish the month on a strong note, potentially breaking out from its approximately three-year downtrend. In his opinion, #Litecoin shouldn’t be overlooked. 🚀
Looks like $LTC is going to close the month strong…and breaking out from the ~3 year downtrend – #Litecoin shouldn’t be ignored in my opinion. 🚀 pic.twitter.com/DH8wkAXm8I
— Seán (@Sean0c3) March 31, 2024
Litecoin Alternatives
The current trend in Litecoin’s price reflects bullish momentum, potentially aiming for the nearest resistance level at $110 if the uptrend persists. Despite its established presence in the cryptocurrency realm with a market cap of $7.8 billion and ranking 20th, Litecoin continues to demonstrate resilience. However, the advent of Bitcoin Minetrix offers investors a fresh avenue for innovation and growth. With a presale surpassing $12.8 million and bolstered by technological advancements and community backing, Bitcoin Minetrix emerges as an enticing investment opportunity.
Bitcoin Minetrix Raises $12.5 Million! Next 20x Crypto?
BTCMTX has raised over $12.8 million, presenting an exceptional opportunity for investors to join a thriving venture with immense growth potential. This substantial raise reflects strong investor confidence in BTCMTX, making it an attractive investment option for those seeking significant returns. By investing now, individuals can benefit from an early entry advantage and become part of a supportive community dedicated to the token’s success.
You can benefit from Bitcoin Minetrix now.
Related News
- Litecoin Price Prediction: LTC Surges 13% After The CFTC Says It’s A Commodity And This World-First AR/VR Blasts Past $3M
- Top Altcoin Defines The Next Frontier In Cloud Mining – How Does $BTCMTX Mining Work
New Crypto Mining Platform - Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now - BTCMTX
- Staking Rewards - Over 50% APY
Join Our Telegram channel to stay up to date on breaking news coverage
