The post Litecoin (LTC) Price Jumps 7.40%, Targets $100 Break to Hit $123 appeared first on Coinpedia Fintech News
As Bitcoin momentarily approaches the $100k milestone, the Litecoin rally is heading to challenge the $100 mark. Crossing over the $90 mark, a post-retest reversal plans for a bull run ahead in the LTC price trend.
Are you curious about the upcoming Litecoin price targets or if you should buy LTC before the $100 breakout? Let’s look closer at the Litecoin price analysis to find key insights and levels to watch out for.
Litecoin Price Analysis
In the daily chart, the LTC price trend shows a post-retest reversal gaining momentum. The broader price action of Litecoin shows a bullish breakout of a rising channel pattern, retesting the broken resistance trendline.
Along with the resistance trendline, the downfall also retested the 50% Fibonacci level at $82.57. However, the overnight surge of 7.40%, resulting in a bullish engulfing candle, highlights a quick reversal.
Currently, Litecoin is trading at $90.70 with an intraday gain of 1.18%. This prolongs the overnight rally and breaks above the 61.80% Fibonacci level at $88.84.
As the post-retest rally gains momentum, the bullish anticipation for a price jump above the $100 psychological mark increases.
The growing bullish demand has led to a golden crossover and is now resulting in a bullish crossover within the 100-day and 200-day AMA line. Supporting the bullish trend, the MACD and signal indicators avoid a bearish crossover and refuel the bullish momentum. Hence, technical indicators maintain a positive sign for Litecoin.
Will Litecoin Price Cross $100?
Using the Fibonacci retestment tool over the Q2-Q3 pullback phase, the LTC price is heading to challenge the 78.60% Fibonacci level at $97.77. The breakout of this level will be critical for the bull run to continue.
The price targets for the breakout rally are $109 and $123. Thus, the ongoing recovery rally shows massive potential for a new 52-week high. The ongoing recovery also teases a rounding momentum reversal with a neckline at the $109 mark. Hence, this level breakout will set Litecoin to explode in 2025. Currently, the crucial support levels for Litecoin are at $82 and $76.
As Bitcoin targets $100k, are you curious how high Litecoin will go in 2024? Check out Coinpedia’s Litecoin (LTC) price prediction to find price targets above $100.
FAQs
- What is Litecoin’s current price and recent performance?
Litecoin is trading at $90.70, up 7.40% overnight, signaling a post-retest reversal after breaking out of a rising channel pattern. - What are Litecoin’s next price targets?
Immediate targets are the 78.60% Fibonacci level at $97.77, followed by $109 and $123, with the potential for a 52-week high and an explosive rally in 2025. - What supports Litecoin’s bullish trend?
A golden EMA crossover, bullish MACD alignment, and sustained momentum above the 61.80% Fibonacci level are driving Litecoin’s uptrend.
