Litecoin

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<ul>
 <li>Litecoin has shown a significant recovery, with a rebound of over 10%, and testing the 20-day EMA amid ongoing market correction.</li>
 <li>There is anticipation that Litecoin could surpass the critical $80 mark, signaling a potential upward trend.</li>
 <li>Technical indicators suggest increasing buyer momentum and potential for further price gains in Litecoin.</li>
</ul>
Following a period of market correction and downtrend, Litecoin appears primed for a potential rebound. Recently, Litecoin (LTC) experienced a significant recovery, achieving a rebound of over 10% and testing the 20-day EMA mark this week. Despite the lower low swings still evident, buyers are keen to reverse the prevailing trend.
The LTC coin recently underwent a range breakdown, dipping to the demand zone around $68. However, it managed to stabilize and witnessed a pullback as buyers started accumulating the coin. This recovery suggests that Litecoin may have completed its corrective phase and could be set for a notable rise, particularly if it surpasses the critical $80 mark.
The recent approval of Bitcoin (BTC) spot ETFs has kept the broader cryptocurrency market under pressure, with Litecoin showing signs of selling pressure. Nevertheless, Litecoin displayed a modest recovery, trading at $74.15 with a 1.06% intraday surge. Although it reflects a monthly return of 11.20%, its annual return stands at 12.20%, indicating long-term consolidation.
A rebound appears likely, contingent on <a href="https://coinmarketcap.com/currencies/litecoin/" rel="noopener noreferrer nofollow">Litecoin</a> maintaining levels above its 20 and 50-day EMAs. The recent spike in trading volume, exceeding 70%, indicates significant buyer accumulation from the demand zone.
The $80 mark serves as a critical threshold for Litecoin. If the recovery continues, breaching this level could signal a substantial upward movement. Conversely, failure to surpass this mark may result in continued bearish trends, potentially driving prices toward the $60 zone.
Technical indicators show positive signs, with the RSI curve recovering from oversold territory and exhibiting a positive crossover. Buyer momentum has strengthened, evidenced by follow-on buying this week.
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 <li><a href="https://cryptonewsland.com/how-ltcs-bullish-resurgence-could-lead-to-a-90-breakout-surge-to-120/" rel="noopener noreferrer nofollow">How LTC’s Bullish Resurgence Could Lead to a 90% Breakout Surge to $120</a></li>
 <li><a href="https://cryptonewsland.com/litecoin-lingers-at-13-weekly-gain-with-2-months-left-before-halving/" rel="noopener noreferrer nofollow">Litecoin Lingers at 13% Weekly Gain With 2 Months Left Before Halving</a></li>
 <li><a href="https://cryptonewsland.com/litecoin-cash-analysis-what-drives-litecoin-cashs-potential-surge-over-0-02/" rel="noopener noreferrer nofollow">Litecoin Cash Analysis: What Drives Litecoin Cash’s Potential Surge Over $0.02?</a></li>
 <li><a href="https://cryptonewsland.com/litecoins-potential-ath-breakout-looms-as-it-heads-past-110/" rel="noopener noreferrer nofollow">Litecoin’s Potential ATH Breakout Looms as It Heads Past $110</a></li>
 <li><a href="https://cryptonewsland.com/litecoin-ltc-price-analysis-aug-week-3-to-4/" rel="noopener noreferrer nofollow">Litecoin (LTC) Price Analysis Aug Week 3 to 4</a></li>
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The post <a href="https://cryptonewsland.com/litecoin-eyes-potential-rebound-can-it-overcome-recent-downtrend/" rel="noopener noreferrer nofollow">Litecoin Eyes Potential Rebound: Can It Overcome Recent Downtrend?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Litecoin Eyes Potential Rebound: Can It Overcome Recent Downtrend?

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Alte articole publicate pe 29 iun. 2024

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