Story Highlights
- Litecoin price soared ~7% in 24 hours, reclaims the $90 mark.
- Technical indicators record a positive price action, highlighting further uptrend.
- Sustained bullish sentiment could push the altcoin to $100 this weekend.
The Litecoin price has experienced a strong bullish recovery after recorded a bearish price action this week. Moreover, with this altcoin retesting its $90 mark, the market is highly anticipating this project to achieve its prolonged target price of $100 this month.
With increasing price volatility in the cryptocurrency market, will Litecoin price hit $100 this weekend? Or will the price experience another pullback? In this article, we have covered the possible short-term prospects of the Litecoin (LTC) crypto token.
LTC Price Records Strong Bullish Reversal!
The Litecoin price has maintained its bullish price action by adding 6.83% to its portfolio in 24 hours with a trading volume of $1.264 billion. Moreover, with a market cap of $6.722 billion, it has surpassed Aptos price to claim the 22nd position in the market.
The Relative Strength Index (RSI) has recorded a bullish reversal with its average trendline on the verge of experience a positive convergence. This indicates an increase in the buying-over-selling pressure for the Litecoin price in the market.
The EMA 50/200-day shows a Golden Cross in the daily time frame. This suggests that the LTC coin price may continue gaining value during the upcoming time.
Will Litecoin Price Hit $100 This Week?
If the bullish sentiment sustains, the LTC price will retest its resistance level of $90. Furthermore, if the bulls dominate the crypto space, this could result in this altcoin heading toward its target price of $100 this month.
On the flip side, if a bearish trend reversal occurs, the Litecoin token will retest its support trendline of $80. Moreover, if the bears outrun the bulls, the altcoin will plunge toward its lower support level of $67.50 during the upcoming time.
Curious to findout the long-term possibilities of this altcoin? Read CoinPedia’s Litecoin Price Prediction and also subscribe us to stay updated on the latest crypto news!
FAQs
For LTC price to hit this target price, it will require a surge of 461.46% in its present valuation.
With a monthly growth of ~30%, this altcoin promises a positive long-term price action.
Considering the present market sentiments, the LTC price may hit $500 in 2030.
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