๐๐๐ #Litecoin Price Prediction: LTC Rally Could Extend To $120
Litecoin has surged over 10% to trade above $105 against the US Dollar, with potential for further gains towards $120.
Encouraging signs include Litecoin surpassing $105 and maintaining position above the 100 simple moving average (4 hours), along with a bullish trend line forming at $101.50 on the LTC/USD 4-hour chart.
Litecoin's recent trajectory has been impressive, outperforming Bitcoin and Ethereum. Following consolidation above $80, LTC initiated an uptrend, breaking through resistance at $88 and $95. Bulls successfully pushed the price above $100, reaching a multi-week high at $112.49. Currently consolidating gains.
With LTC trading above $105 and the 100 SMA (4 hours), supported by a bullish trend line at $101.50, the outlook remains positive.
On the upside, resistance lies near $112.50 and $115, with potential targets at $120 and $122. Failure to breach $105 could lead to a downside correction, with support near $100 and $95.
Technical indicators support a bullish trend, with the 4-hour MACD gaining momentum and the RSI comfortably above 65.
Key Levels:
- Support: $105, $100
- Resistance: $115, $120
In summary, Litecoin's recent performance suggests a #bullish outlook towards $120, with support at $105 and $100.
Source - newsbtc.com
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