#Litecoin Remains in a Bullish Frame, LTC May Rally To $120
Past Performance of Litecoin
Litecoin remains bullish, looking at the performance in the daily chart. Even though the immediate trend favors sellers, prices are defined by the bull bar of March 23. Buyers have the upper hand from an effort versus result perspective. Still, for uptrend confirmation, LTC must break above $95 and, ideally, $120.
#Litecoin Technical Analysis
From the daily chart, buyers are confident of what lies ahead. There are lower lows relative to the upper BB, signaling fizzling upward momentum. Still, with prices inside the bull bar of March 23, buyers have a chance. This is valid as long as prices are above $85. A break above $95 with rising volumes may see LTC float toward $100 and $120. Conversely, any dip below $85, forcing prices below the anchor bar, might see LTC drop to $75 and later March 2023 lows in a retracement, aligning with bears of the second half of February.
What to Expect from #LTC?
Traders can wait for trend definition above $95. Although there have been higher highs in recent days, prices have been in consolidation. Therefore, any break above $95 might be the beginning of another leg up toward $120, cementing the bulls of March 23.
Resistance level to watch out for: $95
Support level to watch out for: $85
Disclaimer: Opinions expressed are not investment advice. Do your research.
Litecoin remains bullish, looking at the performance in the daily chart. Even though the immediate trend favors sellers, prices are defined by the bull bar of March 23. Buyers have the upper hand from an effort versus result perspective. Still, for uptrend confirmation, LTC must break above $95 and, ideally, $120.
#Litecoin Technical Analysis
From the daily chart, buyers are confident of what lies ahead. There are lower lows relative to the upper BB, signaling fizzling upward momentum. Still, with prices inside the bull bar of March 23, buyers have a chance. This is valid as long as prices are above $85. A break above $95 with rising volumes may see LTC float toward $100 and $120. Conversely, any dip below $85, forcing prices below the anchor bar, might see LTC drop to $75 and later March 2023 lows in a retracement, aligning with bears of the second half of February.
What to Expect from #LTC?
Traders can wait for trend definition above $95. Although there have been higher highs in recent days, prices have been in consolidation. Therefore, any break above $95 might be the beginning of another leg up toward $120, cementing the bulls of March 23.
Resistance level to watch out for: $95
Support level to watch out for: $85
Disclaimer: Opinions expressed are not investment advice. Do your research.
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