- Litecoin cost reached $110 on Friday, its greatest level in over 9 months.
- A popular crypto expert states the macro drop for LTC might be over.
Litecoin (LTC) presently trades around $104. Previously in the day, LTC rate hovered simply above $110, its greatest level considering that last July.
LTC cost reached an all-time high of $410 in May 2021. While present rates stay method off that peak, Litecoin’s most current bounce sees experts forecast what might be next.
Litecoin touches $110: Is LTC set for vertical gains?
Before LTC skyrocketed more than 15% on Friday, bulls had actually discovered it tough to break the mental $100 level.
Now with cost hovering above the mark, a popular crypto expert states Litecoin rate might extend gains if bulls accomplish a month-to-month close at $122.
“$LTC requires to Monthly Close above the orange resistance ($122) & & turn it into assistance like in 2020/2021 (green circle) to develop on its current Macro Downtrend breakout. Regular monthly Closing above $122 has actually traditionally been a dish for success for #Litecoin uptrends,Rekt Capital shared by means of X.
Before the breakout on Friday, Rekt Capital had kept in mind that LTC might combine above $94 in the middle of a brand-new macro uptrend.
Litecoin has actually pumped in current weeks in the middle of a general bullish outlook for crypto.
The news that Coinbase was seeking to include Litecoin futures trading and CFTC’s referral for LTC as a product likewise contributed to the favorable outlook.
LTC is most likely among the altcoins to enjoy. Significantly, Bitcoin’s prospective to take off in coming months amidst the halving driver is contributing to LTC belief.