Litecoin Breaks Psychological Barrier But Remains in Bearish Territory: What Lies Ahead?

NewsBTC
NewsBTC

30 Jun 2023 7:00 PM

The recent surge in the price of Litecoin (LTC) propelled it to reach a significant psychological level of $100....

  • Litecoin (LTC) has surged to reach the psychological level of $100, registering gains in recent trading sessions.
  • Despite this bullishness, LTC remains within bearish territory, indicating ongoing downward pressure.
  • The upcoming halving event for Litecoin may contribute to an increase in its price.
  • LTC needs to maintain its price above the local support level to sustain gains on the daily chart.
  • Technical analysis suggests increased demand for LTC and a bullish sentiment as long as it stays above the 20-SMA line.

The article discusses both bullish and bearish factors affecting the price of Litecoin. While LTC has experienced gains and positive performance, it remains within a bearish zone. The sentiment is cautiously optimistic, with the upcoming halving event and increased demand for LTC being positive factors.

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You May Ask

What is the current price of Litecoin (LTC)?What is the significance of the $100 price mark for LTC?How has LTC performed in the past 24 hours and on the weekly chart?What is the outlook for LTC's price before the halving event?What technical indicators suggest a bullish sentiment for LTC?

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