Litecoin (LTC) Price Primed for a 20% Upswing—Will it Make It to $150 This Week?
Litecoin’s price has been rising since the SEC considered the Spot LTC ETF application and acknowledged this. Tokens have been showing huge strength when major tokens like Bitcoin or Ethereum are under enormous upward pressure. This suggests that traders are very optimistic about the next price action, which could increase the level by 20% over the next few days.
this LTC price For a long time, the range within the trading range is below $75, shifting the trader’s focus to the token. Meanwhile, the November breakthrough attracted a large batch of tokens, which helped with volatility and significant price increases. LTC’s price surged above $120 and was trapped in the same bearish and bearish pressure range. Therefore, ensuring that any of these scopes can clarify the future trajectory of the token.
However, the question is whether LTC prices violate the loss of resistance or face a rejection drop below $120.
The daily chart of LTC shows that the price is stuck in a decisive symmetric triangle and is testing the upper limit. Although RSI undergoes U-shaped recovery, DMI levels have caused some concerns. +di &-di avoids a bearish crossover while ADX bottoms out. This suggests that the strength of the assembly is very weak, and therefore the rejection of resistance may approach very quickly.
In this way, the price of LiteCon is expected to be traded within the model until it does not get a large amount of purchases. A rapid rise of more than $130 could lead to a short-term rise, which could further attract corrections and restore levels to that range. Meanwhile, if the LTC price is above $130 and ensures above $140 levels, the bearish possibility may drag down a little bit, but will not eliminate.
So, as the trade setting points to the merger and the Bulls appear ready to raise the price above 20%, traders are expected to remain vigilant about the Litecoin (LTC) price rally.
