Litecoin Price Targets $129 Amid Bullish Momentum and Resistance Levels
Bitcoin is approaching the $100,000 mark, while Litecoin is showing bullish momentum. Despite recent market declines, Litecoin remains above the $100 psychological level.
Litecoin Market Overview
- LTC price consolidated between the $140 overhead ceiling and the $100 demand zone.
- Recent bearish trend saw a drop of nearly $22.30 with six consecutive bearish candles.
- Last night, LTC surged by 2.24%, followed by a 3% intraday recovery.
- Current trading price for Litecoin is $106.55, facing resistance at the 50-day EMA and the 23.60% Fibonacci level at $111.
- RSI indicates potential bullish momentum after bouncing back from the 41.50 level multiple times.
Analyst Predictions
- Analyst Carl Moon targets LTC to reach $129, projecting an 18% surge based on an ascending triangle pattern.
- Short-term support trends indicate bullish formations at lower levels.
On-Chain Metrics
- Resistance levels indicate that a price above $110 could trigger a breakout rally.
- The supply zone between $110-$127 contains 7.05 million LTC, while the $97.20-$110 zone holds 9.19 million LTC.
- A move past $107 could lead to a rally toward $176.
