Cryptocurrency

Litecoin

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-surge-boosts-litecoin-above-100/" data-wpel-link="internal">Crypto Market Surge Boosts Litecoin Above $100</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoins-btc-recent-performance-and-the-decline-in-the-crypto-market/" data-wpel-link="internal">Cryptocurrency</a></strong> market expanded its recovery with the new week as <a href="https://coin-turk.com/j-p-morgandan-kritik-aciklama-elinizdeki-kripto-paralari-satin" data-wpel-link="internal">Bitcoin</a> price reached the $72,000 level for the first time. The rise in momentum spread to the <a href="https://coin-turk.com/turklerin-favori-altcoin-icin-heyecanlandiran-ortalik-kurucusu-duyurdu" data-wpel-link="internal">altcoin</a> market as well, pushing many cryptocurrencies including <a href="https://coin-turk.com/100-dolari-asabilir-kisa-vadede-bu-altcoin-yukselebilir" data-wpel-link="internal">Litecoin</a> to new levels. During the day, with a 20% gain, LTC price surpassed the $100 mark, challenging the resistance trend line of a 2-year horizontal trend.</p> 
<h2 id="critical-formation-in-litecoin">Critical Formation in Litecoin</h2> 
<p style="text-align: justify">Litecoin (LTC) aims to provide faster transaction confirmation times and a more efficient mining process. <strong>Litecoin</strong> is often regarded as the silver to <a href="https://en.coin-turk.com/bitcoin-shows-resilience-after-us-inflation-data-release/" data-wpel-link="internal">Bitcoin</a>‘s gold and can emphasize its role as a practical medium of exchange for daily transactions. The current recovery trend in Litecoin began with the price rebounding from the $63 consolidated support and the lower trend line of a symmetrical triangle pattern.</p> 
<p style="text-align: justify">Under the influence of the mentioned model, the <strong>token</strong> resonates between two converging trend lines until one breaks and signals the next directional move. Thus, under the influence of this model and the broader market recovery, Litecoin’s price increased by 66% over seven weeks, reaching the current trading price of $105. This bull cycle is now challenging the triangle formation’s resistance trend line and could signal the opportunity to trigger a new recovery trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326156 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/LTC.png" alt="" width="1946" height="937"></p> 
<h2 id="analytical-reports-on-ltc">Analytical Reports on LTC</h2> 
<p style="text-align: justify">Looking at the daily time frame chart, a long bullish candlestick that crosses the general trend line by 20% is observed. According to the derivative market data provider <strong>Coinglass,</strong> Litecoin witnessed a liquidation of $2.17 million in short positions. Therefore, a successful breakout could signal the end of the 2-year horizontal movement and provide buyers with the appropriate support to sustain the recovery. The theoretical target suggests that the rally following the breakout should pursue $200. However, a possible retracement from the resistance trend line could extend the current horizontal trend in Litecoin.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-market-surge-boosts-litecoin-above-100/" data-wpel-link="internal">Crypto Market Surge Boosts Litecoin Above $100</a></h5>

Crypto Market Surge Boosts Litecoin Above $100

Table of Contents

COINTURK NEWS

Other articles published on Mar 12, 2024

JP Morgan CEO Talked About Bitcoin Again! FED Announces Its New Forecast for Interest Rate Cuts!

Bitcoin Fog founder convicted in $400m crypto laundering case

Announcement regarding the discontinuation of trading support for PDA by Digital Asset eXchange A...

Biden’s 30% Tax Proposal: A Threat to U.S. Bitcoin Mining?

Ethereum Price Uptrend To Continue? These Factors Could Send ETH To $4,300

BONE, BABYDOGE, AIDOGE bags listing on Binance Future Next

Join our free newsletter for daily crypto updates!