Litecoin Surpasses $130 – Is a Move Toward $200 in Play?
Despite broader market uncertainty and declines across major altcoins, Litecoin (LTC) has held its ground above the key $125 support level, signaling strong bullish momentum.
The asset has gained 10.72% in the past 24 hours and 15.95% over the last week, while its monthly increase stands at 12.23%. With a Year-to-Date (YTD) return of +32.56%, LTC continues to demonstrate resilience.
Technical Outlook
Price Targets
With current technical support intact, Litecoin appears well-positioned for continued gains. However, the market's broader trajectory will be a determining factor in whether LTC can push toward $200 in 2024.
The asset has gained 10.72% in the past 24 hours and 15.95% over the last week, while its monthly increase stands at 12.23%. With a Year-to-Date (YTD) return of +32.56%, LTC continues to demonstrate resilience.
Technical Outlook
- SMA Support – The Simple Moving Average (SMA) reinforces the bullish trend in the daily timeframe.
- RSI Strength – The Relative Strength Index (RSI) has rebounded from neutral levels and is approaching the overbought range.
- Trendline Support – The average trendline continues to hold, suggesting further upside potential.
Price Targets
- Bullish Scenario: If momentum holds, LTC could challenge $147.25, and a break above this level may open the path toward $180.
- Bearish Scenario: If sellers gain control, Litecoin may retest $115.50, with extended downside risk to $100 if selling pressure intensifies.
With current technical support intact, Litecoin appears well-positioned for continued gains. However, the market's broader trajectory will be a determining factor in whether LTC can push toward $200 in 2024.
Disclaimer
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.
Disclaimer
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.