Litecoin Targets $117.50 After 69% Surge and Key Support Bounce
Litecoin (LTC) Overview
- LTC has surged 69% in the past month.
- Currently trading at $95.35, consolidating above crucial support levels.
- Resistance is noted around $100.76, with potential for a breakout towards $117.50.
Market Sentiment
- Speculation is high as Bitcoin nears its all-time high.
- Analysts are divided on market direction; some predict a correction before upward movement.
- Top analyst Carl Runefelt suggests LTC is forming a bullish flag pattern.
Technical Analysis
- LTC finding support above the 200-day EMA at $93.82.
- Volume has decreased, indicating low selling pressure.
- A breakout above $100.76 could lead to higher price targets.
Current momentum hinges on Bitcoin's performance and broader market trends.