What’s happening to Litecoin price today?
- Litecoin worth reached $110 on Friday, its highest stage in over 9 months.
- A well-liked crypto analyst says the macro downtrend for LTC could also be over.
Litecoin (LTC) at present trades round $104. However earlier within the day, LTC worth hovered simply above $110, its highest stage since final July.
LTC worth reached an all-time excessive of $410 in Could 2021. Whereas present costs stay means off that peak, Litecoin’s newest bounce sees analysts predict what might be subsequent.
Litecoin touches $110: Is LTC set for vertical positive aspects?
Earlier than LTC soared greater than 15% on Friday, bulls had discovered it arduous to interrupt the psychological $100 stage.
Now with worth hovering above the mark, a well-liked crypto analyst says Litecoin worth might lengthen positive aspects if bulls obtain a month-to-month shut at $122.
“$LTC must Month-to-month Shut above the orange resistance ($122) & flip it into assist like in 2020/2021 (inexperienced circle) to construct on its current Macro Downtrend breakout. Month-to-month Closing above $122 has traditionally been a recipe for fulfillment for #Litecoin uptrends,” Rekt Capital shared by way of X.
Earlier than the breakout on Friday, Rekt Capital had famous that LTC might consolidate above $94 amid a brand new macro uptrend.
Litecoin has pumped in current weeks amid an total bullish outlook for crypto.
The information that Coinbase was wanting so as to add Litecoin futures buying and selling and CFTC’s reference for LTC as a commodity additionally added to the constructive outlook.
LTC is probably going one of many altcoins to look at. Notably, Bitcoin’s potential to blow up in coming months amid the halving catalyst is including to LTC sentiment.