After experiencing a major setback during the first half of “Uptober”, the cryptocurrency market has regained momentum with blue chip tokens breaking out of their important resistance level this week. On the other hand, the Litecoin price has achieved its July high.
Are you one of many planning to invest in Litecoin, but concerned about its prospects? In this article, we have covered the market sentiments, on-chain data, and possible short-term price targets of the Litecoin (LTC) crypto token.
LTC Price Breaks Its Resistance Trendline!
After trading within an ascending channel pattern since August, this altcoin has successfully regained momentum by breaking out of its resistance trendline during the early Asian trading hours.
Further, this altcoin is currently listed on the market with a price tag of $75.34 and has an intraday jump of 4.52% with a trading volume of $337.43 million. Moreover, it has surged 13.27% over the past week and 15.56% during the past 30 days.
Litecoin Activity Records 16-Month High, Crosses $4 Billion!
Amid increased volatility, Litecoin has witnessed a massive increase in activity. Notably, it has reached a 16-month high of $4 billion in its intraday trading volume.
Moreover, with the induction of new policies and the growing ecosystem’s adoption, Litecoin continues gaining significant traction. On the other hand, it has successfully breached the $70 mark and is now preparing to retest its target price of $100.
Will LTC Price Reclaim $100 This Q4?
If the market bulls continue to dominate the crypto space, the Litecoin price could retest its resistance level of $78.80. Maintaining the price above that level could set the stage for it to head toward its upper resistance level of $90.75 in the coming time.
Conversely, if a bearish reversal occurs, the LTC coin price could plunge toward its support level of $67.40. Furthermore, if the bears outrun the bulls, this altcoin could move toward its support trendline of the channel pattern.
Wondering when will this altcoin hit a new all-time high? Read our Litecoin (LTC) Price Prediction 2024 – 2030!
Earn more CFN tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://cryptoforum.news0
CFN Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed