Litecoin

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/litecoins-market-resilience-and-growth-trajectory/" data-wpel-link="internal">Litecoin’s Market Resilience and Growth Trajectory</a><br></p>
<p style="text-align: justify">On Tuesday, the <strong>cryptocurrency</strong> market witnessed a notable sell-off wave following a 6% drop in the leading cryptocurrency, <a href="https://coin-turk.com/bitcoin-54-000-dolar-oldu-yatirimcilarin-gozu-long-islemlere-dondu-fonlama-orani-artiyor" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/amazon-apple-fedex-hicbiri-bitcoin-degil-bitcoin-piyasanin-yuzde-97sinden-nasil-daha-degerli" data-wpel-link="internal">BTC</a>). The decline triggered a new correction wave in major altcoins, while Litecoin buyers maintained significant resistance by staying above the $93 level.</p> 
<h2 id="ltc-s-recovery-process">LTC’s Recovery Process</h2> 
<p style="text-align: justify">With an intraday increase of 6.8%, the LTC price climbed above $105, indicating that buyers continue to accumulate during market dips. Litecoin, often considered the silver to <strong><a href="https://en.coin-turk.com/anticipation-builds-as-bitcoin-etf-approval-rumors-boost-investor-excitement/" data-wpel-link="internal">Bitcoin</a>‘s</strong> gold, witnessed a renewed recovery trend as its price rebounded from the $77 support level towards the end of March.</p> 
<p style="text-align: justify">The uptrend line led to a bullish momentum, increasing the cryptocurrency’s value by 46%, reaching a 9-month high of $112.8. Amidst this rally, buyers made a decisive exit from the ascending triangle formation on March 29th. This pattern developed over the last 2 years, signaling a significant shift in market dynamics. Despite the current market correction, the <strong>Litecoin</strong> price showed notable resistance above the $78 support level and recovered with a 6.75% intraday gain.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-336769 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ltc.png" alt="" width="1814" height="836"></p> 
<h2 id="ltc-s-analytical-reports">LTC’s Analytical Reports</h2> 
<p style="text-align: justify">According to the cryptocurrency analytics platform <strong>IntoTheBlock</strong>, Litecoin (LTC) emerged as one of the few top 100 tokens currently on an upward trend, showing strong performance since the Commodity Futures Trading Commission (CFTC) classified it as a commodity. This bullish trend resulted in approximately 75% of <strong>LTC</strong> holders now seeing profits from their investments. If the altcoin remains above the rising trend line, the bullish formation will remain intact, providing buyers with a suitable support to extend the rally. Under favorable conditions, the recovery trend could pursue a potential target of $195.</p> 
<p style="text-align: justify">However, IntoTheBlock’s analysis also highlights an upcoming on-chain resistance level for LTC at the $150 price point. This is a critical juncture as it historically represents a concentration of 8.16 million LTC held in 590,000 addresses around this value. Particularly since December 2021, these investors have been experiencing a loss. This suggests that the $150 level could be a significant resistance point due to potential selling pressure from investors seeking a break-even point.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/litecoins-market-resilience-and-growth-trajectory/" data-wpel-link="internal">Litecoin’s Market Resilience and Growth Trajectory</a></h5>

Litecoin’s Market Resilience and Growth Trajectory

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