Litecoin

2024

Resistance

Million

Propel

Litecoin Price: The crypto market returned on a recovery trend as <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> reclaimed the $70000 psychological level. The renewed recovery uplifted most of the major cryptocurrencies and influenced Litecoin. The recent rebound of LTC price from the confluence of technical support at $77 sparks a fresh recovery opportunity for crypto buyers.
Also Read: <a href="https://coingape.com/sponsored/crypto-market-adjustments-lead-litecoin-ltc-investors-to-explore-kelexo-klxo-presale-opportunities/" rel="noopener noreferrer nofollow">Crypto Market Adjustments Lead Litecoin (LTC) Investors to Explore Kelexo (KLXO) Presale Opportunities</a>
<h2 id="b-litecoin-witnesses-over-a-million-new-investors-in-address-count-boom-b">Litecoin Witnesses Over a Million New Investors in Address Count Boom</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/b/b2X0tdMs.png" alt="BINANCE:LTCUSDT Chart " width="1946" height="873">
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 Litecoin Price
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The short-term rally in <a href="https://coingape.com/price/litecoin/" rel="noopener noreferrer nofollow">Litecoin price</a> is bullish evidenced by the ascending support trendline in the daily chart. The coin price rebounded thrice from this support reflecting a key accumulation level for investors during the market dip.
On March 20th, the LTC price rebounded from the confluence of ascending trendline and 100-day EMA at $77, uplifting the coin value by 15% within a week. If the broader market trend remains bullish, this altcoin is likely to surge another 17% before hitting the resistance trendline of a symmetrical triangle pattern.
According to a tweet from Jay M, the Marketing Director at the Litecoin Foundation, there has been a remarkable increase in the number of Litecoin network addresses that hold a balance. The data, sourced from the analytics tool IntoTheBlock, indicates that there are now 8 million addresses with a balance, showcasing a surge of over a million new holders within the last year.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The total number of addresses with a balance on the Litecoin Network continues to grow! Currently at 8 million and adding over a MILLION hodlers since this time last year!! <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LTC</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/HODL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HODL</a> <a href="https://t.co/mm2HFcWC00" rel="noopener noreferrer nofollow">pic.twitter.com/mm2HFcWC00</a>
 — Jay <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/24c2.png" alt="Ⓜ" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f578.png" alt="🕸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@MillaLiraj) <a href="https://twitter.com/MillaLiraj/status/1772326693400887383?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 25, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This uptick in active addresses is a strong indicator of Litecoin’s growing user base and suggests a heightened level of confidence among investors.
<h2 id="strong-symmetrical-triangle-break-could-propel-litecoin-to-195-strong">Symmetrical Triangle Break Could Propel Litecoin to $195</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/a/a7Wfqt2L.png" alt="BINANCE:LTCUSDT Chart Image by sahilmahadik07" width="1946" height="873">
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 Litecoin Price| Tradingview
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Over the past 2 years, the Litecoin price has been traveling a long sideway trend resonating between two converging trendlines of the symmetrical triangle pattern. Amid the current recovery trendline, coin buyers are likely to challenge the pattern’s overhead trendline, for a new start of recovery trend.&nbsp;
This breakout would signal a major change in the Litecoin price trend, setting a potential target of the $195 mark.
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A bullish crossover between the 100-and-200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> bolsters the bullish momentum in LTC price.</li>
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">RSI</a> slope wavering around 50% slope reflects neutral sentiment among traders.</li>
</ul>
The post <a href="https://coingape.com/markets/why-litecoin-price-sees-17-surge-before-resistance/" rel="noopener noreferrer nofollow">Why Litecoin Price Sees 17% Surge Before Hitting A Major Resistance&nbsp;</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Why Litecoin Price Sees 17% Surge Before Hitting A Major Resistance

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