Litecoin LTC price is still bullish
The $100 mark may be around the corner
The bears may return for LTC price to reach $100
Litecoin news today – The Litecoin price is reportedly going bullish again. As of when this content was published the LTC price has crossed the $80 mark and is set to break in the latest spree. The Litecoin price also tested a critical level under $80 thanks to the 4.75% climb it posted in the last 24 hours. Now analysts have turned bullish about the price of Litecoin predicting that it can move up to the $100 mark. While nearly the entire crypto market is in the green today, LTC has now started as one of the top performers. The price of LTC was trading at $82.99 at press time. The bulls are now pushing to break the further after passing the $80 resistance level.
Can Litecoin Gather Enough Momentum After Breaking the $80 Mark?
Litecoin News Today – Many analysts are arguing that the LTC bears will hold control before the price of Litecoin can move up to after crossing the $80 mark. However, this seems unlikely. Citing the technical indicators particularly the formation of the rising wedge pattern, the analyst believes that the price of Litecoin price may eventually be struck down, particularly if the coin’s key resistance positions of $80 and $100 fails to materialize on time. If this prediction is accurate, and the price of Litecoin fails to reach $100, then a pullback to $63.66 which is the next support level will be more likely.
RSI (Relative Strength Index) suggests that Litecoin’s price is approaching overbought territory. This does not guarantee a pullback. However, this might be a good time to make a profit. The bulls will remain in control for now, despite bearish indicators. The bulls may have dug into their heels. One analyst Alex_Clay said the Litecoin price is beginning to look like a solid investment. He added that Litecoin’s price has finally broken the range and has increased through the predicted price targets. It is now settling above the major resistance levels.
Litecoin LTC Price May Reach $100 Soon
The analyst’s Litecoin price prediction is shared by LemkeCapital another crypto commentator. LemkeCapital states that LTC price can potentially pump hard. If it manages to close above $85, it will likely run-up to the $100 area. If the coin can break through the above-mentioned resistance level, $150 could be on the horizon. If Bitcoin’s price continues its climb as we approach its halving, LemkeCapital says this may push LTC price to new ATHs. Whatever happens, it appears that the price of Litecoin is determined by its momentum to reach $100.
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Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.