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
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.
