Litecoin Comeback: Bullish Reversal Sets The Stage For $76.85 Target

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	13,574,818,260	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

13,574,818,260

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000372	0.24%	0.156998	0.156762	0.156824

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000372

0.24%

0.156998

0.156762

0.156824

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.156998	0.155511	0.156626	0.156626	0.077142 - 0.168655

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.156998

0.155511

0.156626

0.077142 - 0.168655

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	09:16:41	165.79	0.156998	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

09:16:41

165.79

0.156998

USD

Price x Volume	Volume	Base Symbol	Related Pairs
89,095.91	571,131.36	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

89,095.91

571,131.36

Litecoin Comeback: Bullish Reversal Sets The Stage For $76.85 Target

16/08/2024 9:30pm

NEWSBTC

Litecoin (LTC) is making a strong comeback as a bullish reversal takes place, setting the stage for a potential move toward the $76.85 target. After bouncing off a critical support level, Litecoin has regained upward momentum, signaling renewed optimism among market traders. Key technical indicators now point to further gains, with $76.85 emerging as the next significant resistance level. As the market responds to this bullish shift, this article will delve into Litecoin’s bullish reversal and assess the significance of the $76.85 target and its implications for future price action. Litecoin has increased by 2%, trading around $65.37 in the last 24 hours. Its market capitalization has exceeded $4.8 billion, with a trading volume surpassing $410 million at the time of writing. Litecoin’s market cap has grown by 2%, while its trading volume has surged 42.12%. Analyzing Litecoin’s Bullish Reversal To $76.85 Litecoin’s price on the 4-hour chart is bullish, having crossed above the 100-day Simple Moving Average (SMA) as it approaches the $76.85 level. The digital asset has experienced a significant price increase since rebounding from the $50 support level, signaling a strong rise in positive momentum that could drive further gains. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently trending around 63%, suggesting that the bulls are still in control and could drive the price higher. On the 1-day chart, although Litecoin is still trading below the 100-day SMA, it demonstrates upbeat resilience, steadily advancing toward the 100-day SMA and the $76.85 level, with multiple bullish momentum candlesticks forming. This suggests active bullish momentum for the cryptocurrency. Finally, on the 1-day chart, the RSI indicator indicates a rising positive momentum for the cryptocurrency. The RSI signal line has moved out of the overbought zone and is currently attempting a move above 50%. Conclusion: Is Litecoin Poised For A Breakout Beyond $76.85? Recent trading indicates that Litecoin, with its strong bullish momentum, could reach the $76.85 level. If the cryptocurrency reaches and surpasses this resistance, it may trigger further positive moves toward the next resistance at $89.74. If this level is breached, it may lead to further price gain toward the $105.9 resistance level and beyond. Conversely, if bearish pressure prevails and Litecoin fails to break through the $76.85 resistance, the price could decline toward the $57.41 support. A drop below this level may lead to a further decline to test the $50 support, with additional downward movement possible if this range is breached. Featured image from iStock, chart from Tradingview.com

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