SasanSeifi|$85 Breakout Could Propel LTC to $100 and Beyond!
2024-11-12

Hey there, ✌I In the weekly timeframe, Litecoin’s price, after a period of consolidation around the $84 level, encountered a bearish trend and corrected down to the $50 range.

As you can see, the price has once again moved towards the important resistance zone and the descending trendline. Currently, it is trading at around $78. If the price breaks the key resistance at $85 and stabilizes above it, the likelihood of further upward movement increases. In this scenario, potential price targets could be $100 and $127. The important weekly support between $65 and $60. Given the overall market conditions, the probability of breaking through the resistance level seems high. Note that this chart is presented in a logarithmic scale.

💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions!

Happy trading!✌😎
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌