Litecoin on the Verge of a Breakout: Are You Ready for a Rally?
Hello, Traders!
After reaching a local high last month, Litecoin entered a correction phase but is now showing signs of recovery.
A few days ago, LTC came close to retesting its previous local high before undergoing a minor pullback.
Currently, it appears that LTC has found strong support in the $95-$100 range, forming a local bottom. I don’t expect the price to dip below this area.
On the upside, there’s a clear resistance zone in the $135-$145 range, which has been tested twice but not yet broken.
The price action suggests that Litecoin is building momentum for a breakout above this level.
If this breakout occurs, it could serve as a catalyst for a parabolic rally.
In such a scenario, the next target will likely be the $200 price level, which aligns with the psychological round number.
Beyond $200, further upside targets could emerge depending on market conditions, particularly if broader market sentiment remains bullish.
Traders should watch for confirmation of the breakout above $145, accompanied by strong volume, as this will increase the likelihood of sustained upward movement
Please don’t forget to boost this idea and leave your comments below.
After reaching a local high last month, Litecoin entered a correction phase but is now showing signs of recovery.
A few days ago, LTC came close to retesting its previous local high before undergoing a minor pullback.
Currently, it appears that LTC has found strong support in the $95-$100 range, forming a local bottom. I don’t expect the price to dip below this area.
On the upside, there’s a clear resistance zone in the $135-$145 range, which has been tested twice but not yet broken.
The price action suggests that Litecoin is building momentum for a breakout above this level.
If this breakout occurs, it could serve as a catalyst for a parabolic rally.
In such a scenario, the next target will likely be the $200 price level, which aligns with the psychological round number.
Beyond $200, further upside targets could emerge depending on market conditions, particularly if broader market sentiment remains bullish.
Traders should watch for confirmation of the breakout above $145, accompanied by strong volume, as this will increase the likelihood of sustained upward movement
Please don’t forget to boost this idea and leave your comments below.
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