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