In February, Litecoin updated the $106 mark. At this price, it was the last time in May 2022. Now, due to the correction of the entire crypto market, Litecoin also made a correction of about 40%. The chart clearly shows the breakdown of the structure, which occurred back in October. Because Litcoin is one of the first coins to regain its growth. We also see the movement of the chart in an ascending pattern that diverges, thereby increasing its volatility. Now the price is near the trend rising support level. And most likely somewhere in this zone will produce a U-turn. Litecoin is a rather heavy instrument. But still, I think that he will be able to accelerate and make a pretty strong movement, because this year he will have to go through halving. And most likely, on a new wave of growth, it will be able to overcome its local maximum and reach a new one. I think that the new local high will be above $130.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.