The cryptocurrency market remains in bullish territory, particularly highlighted by Ethereum and Litecoin, which is showing promising signs for future movements.
Harmonic Pattern and Its Significance
On the daily chart, Litecoin is forming a Bearish Crab harmonic pattern, which, despite its name, typically forecasts strong bullish moves during the CD leg. The pattern begins at point X near $140.17, drops sharply to point A, rebounds to point B, and then dips again to point C around $76.17.
Predictions for Litecoin
Litecoin is currently trading at around $96.65, just below the 200-day moving average at $97.54, a critical resistance level. According to harmonic theory, the final leg from point C to D could push LTC into the Potential Reversal Zone near $187.81, representing a potential 95% upside from current levels.
Future Scenarios for LTC
To maintain the bullish setup, Litecoin must break and close above the 200-day moving average with strong volume. A successful breakout could serve as a catalyst for further upward momentum, while the 100-day moving average at $88 will act as key support.
Given the current market conditions, Litecoin has high potential, and the next few sessions could be pivotal for its price movement.
