Based

Tether USDt

Litecoin

April

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  <ul> 
   <li><strong>LTCUSDT gains 150% from recent low, eyeing a 170% rally if resistance is breached.</strong></li> 
   <li><strong>Impressive Returns and Recent Bearish Trend</strong></li> 
  </ul> 
  <p>LTCUSDT, the <a href="https://thenewscrypto.com/litecoin-ltc-price-prediction" target="_blank" rel="noopener noreferrer nofollow">Litecoin</a> to Tether trading pair, has experienced a notable journey in recent times. After showcasing impressive performance with a remarkable 750% return from January 2020 to April 2021, the cryptocurrency faced a significant hurdle in surpassing its recent high of $413. </p> 
  <p>This resulted in a bearish trend lasting nearly 14 months. However, LTC has shown positive momentum since mid-July 2022, recovering nearly 150% from its lowest point. In this analysis, we will delve into the current price action, identify an ascending triangle pattern, and discuss the potential implications for traders and investors.</p> 
  <h2 class="wp-block-heading" id="h-impressive-performance-and-key-levels">Impressive Performance and Key Levels</h2> 
  <p>LTCUSDT has been trading around the $91.99 level, displaying strong growth over time. Despite facing challenges in surpassing the $413 mark, the cryptocurrency has performed well historically. </p> 
  <p>Key levels to monitor include $149.84 and $326.83, which could act as significant resistance or support levels. Additionally, a notable weekly demand zone is observed at $45, indicating potential buyer interest at that level.</p> 
  <figure class="wp-block-image size-large"> 
   <img decoding="async" width="1024" height="495" src="https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-1024x495.png" alt="" class="wp-image-78980" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-1024x495.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-300x145.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-768x371.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-1536x742.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-2048x990.png 2048w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-6-150x72.png 150w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  </figure> 
  <h2 class="wp-block-heading" id="current-price-action">Current Price Action</h2> 
  <p>Ascending Triangle Pattern and Potential Reversal: Within the weekly time frame, LTCUSDT has formed an ascending triangle pattern from April 18, 2022, to July 17, 2023. </p> 
  <p>This pattern, combined with a recent volume spike, suggests a potential trend reversal and increased volatility. Traders should pay attention to this development, as it could indicate a shakeout of weak buyers and the emergence of a new bullish trend.</p> 
  <figure class="wp-block-image size-large"> 
   <img decoding="async" width="1024" height="495" src="https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-1024x495.png" alt="" class="wp-image-78981" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-1024x495.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-300x145.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-768x371.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-1536x742.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-2048x990.png 2048w, https://thenewscrypto.com/wp-content/uploads/2023/07/image-7-150x72.png 150w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  </figure> 
  <h2 class="wp-block-heading" id="projected-targets-and-breakout-potential">Projected Targets and Breakout Potential</h2> 
  <p>Based on the range structure of the ascending triangle pattern, a measured move can be identified. If LTCUSDT breaks out above the resistance level at $110.80, it has the potential to reach Target 1 at $190 and Target 2 at $330. These levels represent potential price milestones if the bullish momentum continues and the breakout is sustained.</p> 
  <p>While the ascending triangle pattern points towards a potential breakout and bullish scenario, caution is warranted. A bearish scenario would come into play if LTCUSDT breaks below the support level at $75. </p> 
  <p>This would invalidate the bullish view and could lead to a shift in market sentiment. It is crucial for traders and investors to closely monitor the price action and adjust their strategies accordingly.</p> 
  <p>The LTCUSDT trading pair has shown impressive performance in the past, recovering from a bearish trend and exhibiting positive momentum since mid-July 2022. The formation of an ascending triangle pattern suggests a potential trend reversal and breakout. </p> 
  <p>Traders should carefully watch for a breakout above the resistance level at $110.80, which could propel LTCUSDT towards higher price targets. However, caution is advised, as a break below the support level at $75 could indicate a bearish scenario. Vigilance and adaptability will be key for traders and investors navigating the LTCUSDT market.</p>
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LTC/USDT Price Analysis: Ascending Triangle Pattern Indicates Potential Breakout

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TheNewsCrypto

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