After Achieving Interim Key Levels at $100, Here’s What’s Next With Litecoin (LTC) Price Rally
Litecoin has long been considered one of the most undervalued cryptocurrencies as it was the first functional altcoin after Bitcoin. At the same time, trader attention to these undervalued coins has intensified in recent years, resulting in significant price increases. Litecoin priceSpecifically, it has gained 15% in the past 24 hours, maintaining its gains despite heavy bearish activity. Therefore, this indicates that the coin is ready to maintain its strong uptrend and regain its losses in the coming days.
LTC price reversed the bearish trend, which is considered one of the most bullish signals. With this move, the price is believed to maintain a strong upward trend but break out of the bearish zone once it breaks the $121 resistance.
LTC price has suppressed bearish possibilities after rising above a bearish descending triangle, activating higher targets. Volume has remained elevated since the start of the month, making some key indicators bullish. Chai Jin Fund Flow (CMF) is a key indicator for identifying fund flow. These indicators just surged above “0,” highlighting the market’s strong growth. This also suggests that the price will continue to rise, so a move above $121 seems imminent.
On the other hand, the DMI has a bullish crossover between +Di and -Di; however, this does not prove a trend reversal. There is no wider spread between the levels, so there is a possibility of a bearish pullback. Furthermore, it also shows weakness in the rebound, as ADX remains stuck near the lower limit. Therefore, this increases the possibility of a pullback from $121, but if the bulls manage to minimize losses, a strong rebound could soon follow. Therefore, the Litecoin (LTC) price increase continues under the bullish influence but is awaiting confirmation.
