Here’s Why Litecoin’s $100 Support Could Be the Key to Its Next Surge?

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Amid the ongoing market turmoil, top crypto projects have plunged below their important support levels. However, the Litecoin price has maintained its value above its important support of $100, hinting at a potential bullish reversal this month.

Will the LTC coin price maintain its upward trend and record a new monthly high soon? In this article, we have covered the short-term market sentiments, price analysis, and possible price targets of the Litecoin (LTC) crypto token.

LTC Price Successfully Retests Its $100 Support Trendline!

The Litecoin price has maintained its value above the $100 mark with an intraday jump of ~5%. Moreover, with a trading volume of $655.72 million, this altcoin is currently valued at $7.95 billion and has secured the 22nd position in the global crypto market.

The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram. Moreover, with its averages hinting at a potential bullish convergence in the daily time frame, the LTC coin price may continue gaining value.

Further, the SMA indicator records a flatline above the Litcoin price chart. This suggests an increase in the price action for the altcoin in the cryptocurrency space.

Will Litecoin Price Hit A New 52-week High This Month?

If the bullish sentiment intensifies, the LTC token could retest its resistance level of $110. If the market favors the bulls at that point, this altcoin could head toward its upper price target of $130 in the coming time.

On the contrary, if the bears outrun the bulls, it could break down its support trendline of the triangle pattern and retest its low of $100. Furthermore, if the bearish sentiment intensifies, this could pull the price of Litecoin toward its low of $90.

Wondering if the LTC price will hit $1000 this AltSeason? Read CoinPedia’s Litecoin Price Prediction to uncover the possible mysteries until 2030!

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