The legend of LCT reappears, with great potential! When will the $100 mark be broken? The key lies in these!
Since August, Litecoin [LTC] has been rising slowly, although the rise is not fast but stable. However, after Trump won the election, the interest rate cut wave came, and the cryptocurrency industry was booming, and Litecoin also benefited from it. On November 12, it directly rushed to $82.69. But the momentum has slowed down a bit in the past two days, and it has fallen back to $76. So what conditions must be met to rise to $100?
First of all, Litecoin must pass the key hurdle, which is $82.68, where it is always stuck. Moreover, there has been a bearish signal recently, that is, a large Yin line covers the previous small Yang line. If the closing price is lower than $74.5, it will be even more hanging, and it may fall again. The next target is $68.66.
However, if it wants to rise to $100, Litecoin must first pass the $82.70 barrier. This is very important, and it is right on the edge of the rising channel.
In addition, the 50-day and 200-day moving averages must also cross, forming a "golden cross". Finally, Bitcoin must also fight to rise to more than $90,000, so that altcoins can follow suit.
In the past 24 hours, the price of Litecoin has fluctuated greatly, sometimes up and sometimes down. At first, it pretended to fall, falling to $68, but as demand increased, it rose to $82.78.
Now, LTC is back to $75.71, and it seems to be hovering in that range. However, this fluctuation also shows that bulls and bears are competing.
Since November 6, the demand for Litecoin has soared, and it has risen for six consecutive days. Now the bulls are getting more and more confident. Since November 11, the bulls have had the upper hand.
In the past 24 hours, Litecoin liquidated a total of $3.09 million, with bulls losing $2.04 million and bears losing $1.06 million. Although there was a pullback, the bulls were still very strong and pulled the price back.
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