#Litecoin ($LTC) exhibits a strong bullish reversal amidst increased volatility in 2024.
The altcoin remains resilient, maintaining an upward trajectory despite market fluctuations.
Over the past two years, Litecoin's price movement has been predominantly sideways, resembling a symmetrical triangle pattern.
Price action initiates an ascent from the $80 mark or the 38.20% Fibonacci retracement level.
A rapid V-shaped reversal is observed, characterized by a tweezer bottom pattern, resulting in a notable 22% surge within a week.
Short-term bullish momentum is confirmed by the presence of an ascending support trendline on the daily chart.
#Litecoin bounced back from $77 last week, closing above $90 and surging further this week, briefly hitting $99 before facing slight resistance.
As $LTC marks its fifth consecutive day of gains, the uptrend gathers momentum and approaches the significant milestone of $100.
Intriguingly, the $100 level becomes a battleground as evidenced by significant price rejections on intraday candles.
A breakout above this overhead trendline would signify a significant shift in Litecoin's price trajectory, with a potential target set at the $195 mark.
According to Coingabbar's analysis, the Litecoin price prediction for 2040 indicates a minimum target of $500.
KEY LEVELS :
RESISTANCE LEVEL : $105-$115
SUPPORT LEVEL : $87-$80
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
