litecoin LTC

Litecoin Price Prediction – LTC Blasts Up 27%, Can it Reach $100 by 2023?

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Litecoin (LTC) has made a surprise breakaway even as the greater crypto market struggles to make gains, pushing up fast since Nov.

22 and rising over 27% in the past 48 hours and currently sitting at $78. The question is, does it have more bullish juice left or will the latest pump be followed by a sharp correction?This depends on both technical and fundamental factors.

On the technical side, LTC has broken out of its sideways range from last week, ending up well above a key resistance and support level at $70.On the fundamentals side, there are obviously macroeconomic factors driving the wider crypto market at the moment, including the overall bearish market trend and the FTX fallout.Let’s take a look at some key supports and resistance areas for Litecoin to get an idea of what’s possible in the short and medium term.Litecoin is currently at a 12% gain in the past 24 hours, reaching as high as 27% at one point, while Bitcoin is only up 1.5%.Although we have broken a resistance level at around $70, LTC failed to break out past the $80 mark, indicating that a more significant push may be needed to reach the $100 mark.

If we close the day above $79 or so, this could be a bullish sign for the cryptocurrency.The $100 area was key support multiple times since January prior to a break below this level in May.

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