- Litecoin has struggled to break long resistance, but modern bullish signals, including high liquidity and ETF speculation, may nourish a large gathering.
- The LTC/BTC pair appears strength within an emerging parallel channel, with technical indicators (MACD and OBV) now indicating a renovation momentum.
- After a recent sale, LTC decreased to $ 106, a strong recovery-with a 15 % increase and a 50 % increase in size-pave the way for penetration higher than the level of $ 150.
Litecoin is slowly gaining traction among the market participants as it seeks to penetrate the level of resistance that was held firmly for years. Despite the recent failed attempts, the distinctive symbol is now showing signs of renewable power – this is partially for the increasing speculation about Spot LTC ETF, which is recognized by the SEC.
This Litecoin has been placed as one of the most optimistic charts in the market, surpassing the other symbols against USDT and showing great strength for Bitcoin.
Litecoin trading within an emerging parallel channel
The LTC/BTC pair is now traded within a parallel channel with a height, with the last height of the husband pushing higher than the average.
After stirring, MACD was turned into a downward signal, quickly up and remains in the positive range, while OBV continues to rise steadily, indicating a continuous flow of liquidity. These factors indicate that Litecoin is gaining strength against Bitcoin – a clear sign that the strong upward trend may be underway.
During the last sales process, the price of Litecoin decreased to $ 106, but with strong support by bulls, refreshing with an increase of more than 15 %. In addition, the trading volume increased from $ 2 billion with a remarkable increase by 50 %, which allows for increased interest in purchase and ascending trend.
Currently, LTC is trading within an ascending triangle, with a resistance area ranging from $ 136 and $ 140 that paid the price to a decrease in the price. However, bullish signals such as MacD and the reversal of the ups in OBV indicate that the distinctive symbol is ready for testing and is likely to penetrate this barrier.
If the bulls can secure a decisive outbreak over the resistance – especially if the price can close the temporary level of $ 144 – there is a strong possibility that Litecoin collects more than $ 150. If the price exceeds 154 dollars, the bullish momentum may be completely responsible, putting the way to move towards its highest levels ever reminds us of the levels seen in December 2021.
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