The cryptocurrency market continues to be active, with elite coins experiencing significant volatility, while Bitcoin price continues to hold above $72,000, showing a strong upward trend.
Litecoin’s rebound
Litecoin has managed to resume its upward momentum after experiencing a brief neutral trend. LTC price has gained 13.5% in the past 24 hours and has gained around 40% in the past 30 days, retesting its major resistance level.
Litecoin price reclaims $100 mark
After 8 months, the price of Litecoin broke through the $100 mark for the first time. Over the past two weeks, LTC prices have fluctuated between $67.43 and $71.90, indicating relatively weak buying and selling pressure. However, as volatility increased, bulls gained strength, driving the price up by 18.5%. Over the next three days, LTC price increased by 31.69%, but encountered resistance at $94.69 and experienced a period of correction.
Outlook for future trends
The MACD shows a continued decline in the green histogram, indicating increasing selling pressure. The moving average shows a flat line, suggesting uncertainty about future price movements.
Litecoin Price Outlook 2024
If the market is able to sustain the price above the $98.94 support, bulls will regain momentum and attempt to break above the $105.05 resistance. Price sustainment at this level would allow Litecoin to test the upper resistance at $110.
However, if the trend reverses, it could cause LTC price to break below the support and test the lower support at $94.69. If the bears continue to suppress the bulls, the LTC coin may sink further and test lower levels at $86.51.
