#Litecoin Rallies 100%: Eyes $112 Breakout
$LTC has surged over 100% this year, recently retesting the
critical $100 resistance—its highest since April 2024. This
momentum aligns with the broader crypto bull market, and
technical indicators suggest more gains may follow.
Bullish Technical Patterns
1/ Triple-Bottom Formation:
Weekly chart shows a bullish reversal pattern with support at
$57.90 and neckline resistance at $112. Breaking this level
could push LTC toward $220, matching the 61.8% Fibonacci
retracement.
2/ Golden Cross:
LTC's 50-week EMA is crossing above the 200-week EMA, a rare bullish signal for a sustained rally.
3/ Inverse Head & Shoulders:
Daily chart points to a potential move to $112.6, supported by
other bullish indicators like Murrey Math Lines and a
cup-and-handle formation.
Fundamental Drivers of Growth
*/ Hash Rate Surge: LTC's hash rate hit a record 1.44 Phash/s, boosting network security.
*/BTC Comparison: Litecoin appeals to smaller investors as Bitcoin approaches $100K.
*/ Payment Utility: Faster, cheaper transactions make LTC a favorite for payments.
*/ Market Sentiment: Bullish crypto market momentum and
high-risk appetite favor LTC.
Analysts See Bigger Gains
Some experts predict Litecoin could rally further, with targets as high as $220. Analyst "Twoface" forecasts an 8,000% surge,
citing past bull market performances.
