Litecoin (LTC) has managed to maintain its upward trend despite recent selling pressure, drawing attention among traders.
Breakthrough Critical Threshold
In the last 24 hours, Litecoin's price has increased by 5.56%, trading above the $109 support level. Daily trading volume reached $981.16 million, and its market capitalization grew to $8.53 billion, making it the 19th largest in the cryptocurrency market.
Technical Indicators and Projections
Technical indicators support this upward trend. The Relative Strength Index (RSI) showed a sharp rise on the daily timeframe, indicating buying pressure. The Simple Moving Average (SMA) also indicates a positive crossover on Litecoin's price chart, creating an optimistic outlook for investors.
Will Litecoin Hit $150?
Staying above the $109 support strengthens the likelihood of testing the $128.25 resistance level. Breaching this level would pave the way for a rise to $147.25. However, given the market's volatility, a retest of the $109 level is possible, with a drop to $100 likely if this support fails.
The market remains volatile, and LTC's future movements depend on shifting support and resistance levels.
