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- LTC was up by over 10% within the final 24 hours alone
- Promoting stress on LTC may rise within the coming days
Litecoin [LTC], like most cryptos, had a promising week as its worth surged to double digits. This allowed the coin to go above the $100 mark. Because the coin’s value motion was bullish, buyers might need began to anticipate a continued value uptrend from Litecoin.
The Litecoin bulls are stepping up their sport
CoinMarketCap’s data clearly identified that LTC’s worth surged by greater than 23% within the final seven days. Because of that, LTC went above a key psychological resistance stage of $100, giving hope for an additional uptrend.
An evaluation of Santiment’s information revealed that the coin’s social quantity was excessive, reflecting its recognition within the crypto house. The bullish value motion additionally triggered a spike in LTC’s weighted sentiment on the twenty seventh of March, suggesting that buyers’ confidence within the coin.
Supply: Santiment
Rekt Capital, a well-liked crypto analyst, not too long ago posted a tweet highlighting Litecoin’s breakout. As per the tweet, Litecoin efficiently retested its multi-year macro-downtrend as new help, which clearly means that it has begun a brand new macro-uptrend.
The tweet additionally talked about that it’s essential for the coin to stay above $94 within the coming days. Because the coin started its macro-uptrend, buyers may witness LTC reaching an all-time excessive over the months to comply with.
Nevertheless, what can we anticipate from the coin within the brief time period?
Which method is LTC headed?
After having a cushty final week, LTC nonetheless continued to dominate because the coin’s worth surged by greater than 10% within the final 24 hours alone.
On the time of writing, LTC was buying and selling at $104.27 with a market capitalization of over $7.75 billion, making it the nineteenth largest crypto.
Our evaluation of Hyblock Capital’s information revealed that, shifting northward, LTC’s liquidation will rise close to the $111 mark. A hike in liquidation could cause a slight value correction earlier than it once more positive factors bullish momentum.
Supply: Hyblock Capital
We then checked LTC’s every day chart to see whether or not the coin’s value may attain $110 within the subsequent few days. The evaluation revealed that LTC’s value had touched the higher restrict of the Bollinger Bands.
Learn Litecoin’s [LTC] Price Prediction 2024-25
The Cash Stream Index (MFI) was additionally about to enter the overbought zone. Each indicators prompt that promoting stress on the coin may enhance.
Nonetheless, the MACD continued to help the patrons because it displayed a transparent bullish benefit available in the market.
Supply: TradingView
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