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

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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