Litecoin is drawing investor interest once again as analysts highlight clear trading ranges and signs of potential growth.
Market State of Litecoin
Currently, the price of LTC is around $108.78, holding steady after bouncing off key support levels. In a tweet, DigitalNomad remarked: '$LTC one more time!!', also sharing a chart indicating that Litecoin may be gearing up for another strong push upward.
Daily Chart Analysis of LTC
Since mid-April, Litecoin's price has been on a steady uptrend, forming higher highs and higher lows. A key movement occurred when LTC broke above the $106 resistance level and has now pulled back to retest this area as support. The $100–$106 range has been tested multiple times before and also aligns with a psychological level at $100.
Future Growth Prospects
Zooming out, Litecoin's price made a sharp recovery after falling from the $140–$150 range earlier this year. The current price has cooled off and pulled back into a key weekly zone between $88 and $103. Both analysts are pointing toward the equal highs around $140 as a common target in technical analysis, often attracting price as liquidity builds.
Litecoin is showing signs of sustainable growth, and if the price remains above support levels, a continued rise to $120 and potentially $140 is forecasted.
