Litecoin Price Reclaims $100! LTC Price To Test $125 This Month?

The post Litecoin Price Reclaims $100! LTC Price To Test $125 This Month? appeared first on Coinpedia Fintech News

The cryptocurrency market continues to trade positively, with the elite tokens recording significant fluctuations in their respective portfolio. Further, the price of Bitcoin continues to trade above the $72,000 mark, indicating a strong bullish influence in the crypto space.

On the other hand, the Litecoin has successfully regained momentum after displaying a neutral trend for a brief period. The LTC price has added 13.5% within the past 24 hours and approximately 40% over the past 30 days, resulting in it retesting its major resistance level.

LTC Reclaims $100 For The First Time In 8 Months!

The Litecoin price traded in a closed range between $67.43 and $71.90 for over two weeks, indicating a weak buying and selling pressure for the token in the industry. As the volatility increased, the bulls jumped 18.5%, after which the price displayed a neutral trend for the next two days.

Following this, the Litcoin price started trading under a bullish influence and added 31.69% within the next three days, after which the bulls faced rejection at the resistance level of $94.69, and the price traded sideways for a while. The LTC token then recorded a correction of 15.52% in the chart.

TradingView: LTC/USDT

After testing its low of $77.29, the bulls regained momentum and recorded a bounce back in the valuation, following which the price traded in the closed range for a while. Recently, the bulls recorded a jump of 21.43% before facing rejection at $105.05. Since then, the price has been trading under a bearish influence and is testing its resistance/support level.

The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating increased selling pressure within the crypto space. Further, the averages show a flatline, suggesting uncertainty in the future price action of this altcoin.

Will Litecoin Price Go Up In 2024?

If the market holds the price above the support level of $98.94, the bulls will regain momentum and test its resistance level of $105.05. Maintaining the price at that level will set Litecoin’s price to test its upper resistance level of $110 this month.

Negatively, a trend reversal may result in the LTC price breaking down its support level and testing its lower support level of $94.69. Moreover, if the bears continue to overpower the bulls, the LTC token will bleed and prepare to test its lower level of $86.51.