Litecoin Eyes $ 117.50 Key Support Price rebound -Analyst -Analyst
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Litecoin has been steadily maintaining at an important level by riding a wider market momentum after 69% surge last month. As Bitcoin is hitting at an all -time high, analysts are closely at LTC for potential failure or signs of failure. The current price behavior has historically been a pivot for the main movement of Litecoin and shows the integration near the important demand area.
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Although optimistic feelings are being built across the encryption market, not all analysts are convinced. Some people warn that if Bitcoin fails to find price and fails in a wider market stable, Litecoin can face new sales pressure. But the chief analyst, Carl RuneFelt, is optimistic, and Litecoin shares a technical view that suggests that the chart forms an optimistic flag pattern.
RUNEFELT’s goal refers to a healthy market structure and more than the current range of evacuation supported by recent profits. Nevertheless, on the coming days, we will decide whether the LTC follows or backs back. Currently, Litecoin stands at a technical intersection and is on the table with both opportunities and risks.
Litecoin Eyes Breakout while the market is waiting for BTC check
Litecoin is currently trading at the pivotal level where speculation of the next major movement in the market is increasing. After finishing a strong 69%rally over the past month, LTC has entered the reinforcement stage beyond important support. The wider encryption market is in a similar position, and investors are closely watching Bitcoin’s potential escape and enhance the rest of the market.
Lisocoin traders can breathe, as Bitcoin heads to the highest ever. Many believe that more than $ 109K mark of BTC can serve as a catalyst for Altcoins, especially LTC. But not everyone agrees. Some analysts have deeper modifications before the market first cools down.
RUNEFELT is in the strong camp. He recently shared technical analysis that emphasizes optimistic flag patterns on Litecoin’s charts. According to Runefelt, Litecoin has already popped out of support, and this setting presents a hiring brake out scenario. His price goal of movement is $ 117.5, which will increase significant driving at the current level.
RUNEFELT’s view is consistent with a wide range of strong feelings that are slowly rebuilt throughout the market. However, confirmation depends on the ability of Litecoin, which increases short -term resistance and the performance of Bitcoin is nearly the best. Currently, LTC investors are carefully optimistic and know that momentum can move quickly with the development of the macro market.
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Technical details: Main level to watch
Litecoin (LTC) is currently trading at $ 95.35, and has recently shown recovery after the shortest paragraph in the region near $ 106. The chart emphasizes the support period for LTC finding a slightly lower $ 100.76 than the 200 -day index (EMA) or more than $ 100.76 than the 200 -day simplicity (SMA). These two moving averages now act as a technology pivot area, creating all the resistance and support that can define the next movement of the LTC.
After the $ 66 rally in April, Litecoin surged more than 69% before facing resistance at a psychological $ 100 level. The price is now emerging as a reinforcement range, which can develop into an optimistic continuous pattern. In particular, the wider market sentiment is maintained in a positive state, and Bitcoin exceeds its all -time high.
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During the recent fullback, the volume decreased slightly, resulting in a strong sales pressure. This supports the strong paper that the current movement is a healthy integration rather than the beginning of the reversal. As mentioned by analysts like Carl Runefelt, brake outs above $ 100.76 will open a door for $ 117.50.
DALL-E’s main image, TradingView chart
