Following the solid American consumer inflation data, the value of Litecoin has made a strong comeback. LTC/USD reached a high of 97.56, the highest level since February 9. It has risen nearly 10% from its lowest point this week and is approaching the psychological level of $100.
Litecoin value forecast
The daily chart shows that the Litecoin price has been in a strong bullish pattern since crashing to a low of $44 in June of last year. It has outperformed the majority of cryptocurrencies, including Bitcoin, Ethereum, and Bitcoin Money.
A close examination of the chart reveals that the coin has a rounded backside sample. This sample bears a striking resemblance to a cup and handle, indicating a bullish continuation. It has also moved just above the 50-day and 200-day moving averages.
Notably, it has risen just above the critical resistance level of $92, which is the best aspect of the cup and deal sample. It has also performed a break and retest sample. Oscillators such as the Relative Power Index (RSI) and the Moving Average Convergence Divergence (MACD) have continued to rise.
LTC valuation forecast (4H chart)
The LTC crypto worth has bounced back after falling to a low of $88.40 on the 4H chart. It’s getting close to the lower facet of the ascending channel, shown in black. The coin has risen above the 50-period moving average, while the MACD histogram has increased above the neutral level.
As a result, the value of Litecoin is likely to rise further as buyers aim for the crucial level of $100. A move above that level indicates that additional buyers are still available in the market. If this occurs, the following critical stage to watch will be at $105, the channel’s higher facet.
Regardless, this rebound could be a break-and-retest sample. If this is the case, the coin will likely resume its bearish trend in the coming days. As a result, customers must first transfer above the channel’s lower facet.
Binance is the best place to buy Litecoin.
Binance is well-known for having low buying and selling fees and various buying and selling options for its customers, such as peer-to-peer buying and selling, margin buying and selling, and spot buying and selling.
Now is the time to buy LTC with Binance.
OKX takes customer security very seriously; they keep nearly all of their customers’ funds in cold storage, and the exchange has yet to be hacked.
Furthermore, the alternative has very low fees, and customers can use their cryptocurrency as collateral for loans on the platform.
Now is the time to buy LTC with OKX.