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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ltc-price-analysis-will-litecoin-trigger-a-jump-to-100-2/">LTC Price Analysis: Will Litecoin Trigger A Jump To $100?&nbsp;</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Taking a sharp correction from $114 to $57 between July and September, the LTC coin price brings a death cross. Taking a sideway step to avoid further correction, the Litecoin price made an inverted head and shoulders pattern with a neckline close to the $70 mark.&nbsp;
Despite such sharp correction, the market sentiments expect positive outcomes and present optimistic <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/" rel="noopener noreferrer nofollow">Litecoin price predictions.</a>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-1024x487.png" alt="" class="wp-image-235184" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/06123554/LTCUSD_2023-10-06_12-26-45.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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However, the overhead supply pressure moving along with the 50-day EMA nullifies the breakout possibility by forcing the LTC price back to the $60 support zone. Currently, the LTC price aims to form a morning star pattern to ignite the positive cycle from the crucial support zone.&nbsp;
As of now, LTC price is trading at $65.41 with an intraday growth of 0.93%, highlighting a reversal possibility. This positive reversal will challenge the 50-day EMA and might cross the $70 support zone to give a bullish breakout.&nbsp;
Moreover, the chances of a reversal in LTC price are increasing as the overall market enters the Uptober season.
However, the lack of trend momentum and significant overhead supply warns of a consolidation range or a further correction.
Technical indicators:
DMI indicator: The ADX line is still on a downward trend, indicating a low momentum phase for Litecoin. However, the bullish turnaround in the DI lines suggests a high probability of a breakout to the upside.
EMA: Rising above the 50-day EAMA will be critical for Litecoin price to continue the recovery rally.&nbsp;
<h2 class="wp-block-heading" id="h-will-ltc-price-rise-to-100">Will LTC Price Rise To $100?</h2>
Considering the Litecoin momentum increases with the Bitcoin ETF decision this October, the altcoin may form a new swing high. If the LTC price exceeds the 50-day EMA, it will highlight a bullish entry spot for sideline traders. Moreover, the 50-day EMA breakout will challenge the $70 mark before reaching the psychological mark of $100.
Alternatively, if the downtrend persists, it might break $60 to test the bullish dominance at the $50 support level.

LTC Price Analysis: Will Litecoin Trigger A Jump To $100?

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