litecoin LTC

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

Reading now: 325
cryptonews.com

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.

Read more on cryptonews.com
The website financemag.cash is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA