*Litecoin Price Analysis*
In the daily chart, the LTC price trend shows a post-retest reversal gaining momentum. The broader price action of Litecoin shows a bullish breakout of a rising channel pattern, retesting the broken resistance trendline.
Along with the resistance trendline, the downfall also retested the 50% Fibonacci level at $82.57. However, the overnight surge of 7.40%, resulting in a bullish engulfing candle, highlights a quick reversal.
Currently, Litecoin is trading at $90.70 with an intraday gain of 1.18%. This prolongs the overnight rally and breaks above the 61.80% Fibonacci level at $88.84.
As the post-retest rally gains momentum, the bullish anticipation for a price jump above the $100 psychological mark increases.
The growing bullish demand has led to a golden crossover and is now resulting in a bullish crossover within the 100-day and 200-day AMA line. Supporting the bullish trend, the MACD and signal indicators avoid a bearish crossover and refuel the bullish momentum. Hence, technical indicators maintain a positive sign for Litecoin.
The price targets for the breakout rally are $109 and $123. Thus, the ongoing recovery rally shows massive potential for a new 52-week high. The ongoing recovery also teases a rounding momentum reversal with a neckline at the $109 mark. Hence, this level breakout will set Litecoin to explode in 2025. Currently, the crucial support levels for Litecoin are at $82 and $76.