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The post <a href="https://coinpedia.org/price-analysis/ltc-price-reversal-eyes-80-breakout-amidst-market-recovery/" rel="noopener noreferrer nofollow">LTC Price Reversal Eyes $80 Breakout Amidst Market Recovery</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The general market recovery and high hopes of Bitcoin crossing the $50K barrier fuels the uptrend in altcoins like Litecoin. The LTC price shows a swift uptrend as it reverses over the week for double-digit growth.&nbsp;
As the trend momentum increases for Litecoin, the buyers are ready to fuel enter at levels at $70. Therefore, despite the long consolidation below $100, the <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/" rel="noopener noreferrer nofollow">LTC price prediction</a> holds a bullish torch in 2024.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="471" src="https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-1024x471.png" alt="" class="wp-image-260814" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-1024x471.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-300x138.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-768x353.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-1536x707.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08-150x69.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/12133703/LTCUSD_2024-01-12_13-17-08.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/oYjssezE/" rel="noopener noreferrer nofollow">TradingView</a>
Following months of lateral trend below the $80 mark, the LTC price finds a fresh spirit of recovery at the $60 mark. With multiple lower price rejection candles, Litecoin aligns the recovery with the Bitcoin Spot ETF approvals for the extra push.&nbsp;
Forming a rounding reversal and crossing the 23.60% Fibonacci retracement level at $71.77, Litecoin aims for further growth. The streak of bullish candles and the rising trading volumes support the possibility of an uptrend continuation.&nbsp;
The LTC price is currently trading at $72.96 with an intraday growth of 1.54%, following the 2.51% jump last night. As the buyers remain dominant over the Litecoin price trend, the $80 breakout chances for Litecoin improve.&nbsp;
Technical indicators:
RSI indicator: The daily RSI line shows a swift reversal, crossing the 14-day SMA and the halfway line. Hence, the ongoing recovery comes with a massive momentum, as per RSI.&nbsp;
MACD Indicator: The MACD and signal lines regain positive alignment with a crossover below the zero line. This reinstates the bullish histograms in motion and reflects bullish momentum on the rise.&nbsp;
<h2 class="wp-block-heading" id="h-will-ltc-price-reach-100">Will LTC Price Reach $100?</h2>
Considering the market recovery continues to gain momentum and fuel the altcoin rally, Litecoin is set to cross the 2023 record high. However, for a continuation of the bullish trend, the $80 barrier will be a critical obstacle as it remains a multipoint resistance in the LTC price history.
In case Litecoin manages to push past $80, the uptrend can easily scale to the $100 mark. However, a reversal can set a retest phase of $70 in motion.&nbsp;

LTC Price Reversal Eyes $80 Breakout Amidst Market Recovery

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