- Litecoin targets $354.36, representing a potential 207% upside from current levels near $119.26.
- Key resistance levels at $130, $140, and $417 align with bullish momentum and historical recovery phases.
- Indicators like RSI and MACD reflect strong momentum, supporting short-term and long-term bullish sentiment.
Litecoin (LTC) is regaining momentum with significant strength, positioning itself for a potential continuation toward its first major target of $354.36. This movement indicates a possible 207% upside from its current price levels. As LTC builds momentum, it appears ready to challenge critical resistance levels and establish a new upward trajectory.
LTC Approaches Key Resistance Level
The observation chart by Javon Marks displays a long-term price movement with Litecoin rebounding from a prior descending trendline. The price is consolidating, showing higher lows, indicating bullish strength. A major resistance target is marked near $417.
The lower indicator reflects increased momentum aligning with price recovery. Historical price action suggests significant resistance ahead. The consolidation phase suggests potential breakout opportunities toward the highlighted resistance zone if momentum persists.
The current pattern aligns with historical recovery phases, reflecting uniform upward pressure on the price. The first target of $354.36 serves as an important point in Litecoin’s price action. The recent signs of strength in LTC’s performance point to the possibility of breaking through resistance levels that could pave the way for further gains.
Potential for Over 207% Upside
The cast move toward $354.36 represents a potential upside of more than 207% from current price levels. This growth could position Litecoin among the best-performing cryptocurrencies in the near term.
While the $354.36 target is the immediate focus, Litecoin’s performance indicates the potential for even greater movement. Breaking this level may serve as a foundation for further price increases. Such developments could signal a broader trend reversal for LTC, depending on market conditions and trading volume.
According to trading view observations, the price currently trades near $119.26, indicating a 1.97% daily increase. Key resistance levels are visible at $130 and $140, while support rests around $110.
The Relative Strength Index (RSI) stands at 61.51, signifying bullish momentum above the neutral 50 level. The MACD histogram shows bullish crossovers with positive momentum building above the signal line. Litecoin exhibits an ascending channel, reflecting short-term bullish sentiment. The price may target $130 and $140 on sustained momentum, while support near $110 could stabilize potential pullbacks.
The post Litecoin Approaches $130 and $140 Resistance: What’s Next for LTC Price Action? appeared first on Cryptonewsland.
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