$LTC
Litecoin (LTC), the 19th largest crypto globally by market cap, has seen a surge in price. With the rise, the market cap reached the $4.9 Billion mark.
👉#litcoin Litecoin has built a descending triangle, precisely a bullish pattern on the weekly chart. The resistance was present from 2021, as illustrated on the chart via an orange trendline facing downward. The support of the $50 level showcased its presence from 2018.#LowestCPI2021
👉LTC was in a downtrend. After the big move in 2021, it marked the $413.91 high, and the downtrend hit hard. From 2022, the bearish trend was confirmed as price activity was under 50-period EMA and 200-period EMA bands on the weekly chart.#MarketDownturn
👉Over the weekly built structure, long-term targets can be achieved. This can happen if a breakout prevails after the successful change of character (CHoCH) of the $109 level. #BinanceSquareCreatorAward
Based on the Fibonacci retracement tool, the targets could be at $210, $280, and $360, respectively.
