LTC Price Bullish Reversal Eyes To Hit $100?
Story Highlights
- Litecoin price surged about 7% in 24 hours, returning to the $90 mark.
- Technical indicators record positive price action, highlighting further upward trends.
- Continued bullish sentiment could push the altcoin towards $100 by the end of the week.
Litecoin price has experienced a strong bullish recovery after experiencing bearish price action this week. Furthermore, with the altcoin retesting the $90 mark, the market is highly expecting the project to achieve its long-term price target of $100 this month.
As price volatility intensifies in the cryptocurrency market, will Litecoin hit $100 this weekend? Or will prices pull back again? In this article, we discuss the possible short-term prospects of the Litecoin (LTC) crypto token.
LTC price records strong bullish reversal!
Litecoin price maintained its bullish trend, adding 6.83% in 24 hours with a trading volume of $1.264 billion. In addition, it surpassed Aptos stock price with a market value of $6.722 billion, ranking 22nd in the market.
The Relative Strength Index (RSI) is showing a bullish reversal and its average trendline is on the verge of positive convergence. This indicates increasing buying and oversold pressure on Litecoin price in the market.
The 50/200 day EMA is showing golden cross on the daily time frame. This suggests that the LTC token price may continue to appreciate in the coming period.
Will Litecoin Price Hit $100 This Week?
If the bullish sentiment persists, LTC price will retest the $90 resistance. Furthermore, if bulls dominate the crypto space, this could lead to a $100 price target for the altcoin this month.
On the other hand, if a bearish trend reversal occurs, the Litecoin token will retest its support trend line at $80. Furthermore, if the bears outweigh the bulls, the altcoin will decline towards the lower support at $67.50 in the coming hours.
Curious about the long-term possibilities for this altcoin? Read CoinPedia’s Litecoin Price Prediction And subscribe to us to stay updated with the latest crypto news!
FAQ
For LTC price to reach this target price, it would need to surge 461.46% from its current valuation.
This altcoin is growing around 30% monthly, promising positive long-term price action.
Considering the current market sentiment, LTC price may reach $500 by 2030.
