CandleFocus Litecoin Targets $100 in a Rising Channel as Bitcoin Surpasses $67K
2024-10-16
Author: Content Editor
The recent surge in bullish momentum has led to a comeback for Litecoin, with the altcoin aiming to reclaim the $100 psychological mark. Despite increased volatility, Litecoin's price action has formed a rising channel pattern and is challenging resistance levels. The rising 50-day EMA and bullish crossovers in the MACD and signal line indicate positive market sentiment. If Bitcoin reaches a new all-time high this month, Litecoin could potentially surpass $100, with a potential price target of $109.13 by the end of the month. Additionally, the recent filing of a Litecoin ETF by asset manager Canary Capital further supports a potential uptrend. In the case of a bearish scenario, Litecoin investors may find support at price levels of $65 and $60.
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