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Litecoin (LTC) Prepared for Swift 30% Recovery – Here’s Why

  • Litecoin has its price hovering at $72, targeting a swift reversion towards the mean.
  • Overpowering the hurdle at $82.3 will welcome a 30% increase for LTC.
  • A significant daily candle closing beneath $64.6 will cancel the bullish narrative.

Litecoin (LTC) displays stabilization at a new weekly support barrier following a massive crash from its May 2021 all-time highs. The mentioned barrier can catalyze a swift surge that means profits for near-term traders.

LTC Paints a Bullish Picture

Litecoin’s price declined by 86% from the $413.5 ATH to explore the lows of $54.4. the brutal fall emerged after the UST and LUNA crisis during May’s first week. Nevertheless, the alternative token appears to have secured a foothold around $64.6, a weekly support barrier.

A quick rebound from the footing propelled Litecoin towards $72. Moreover, the altcoin appears ready for another swift upsurge. Market players can expect Litecoin to retest the hurdle at $82.3, a vital zone in determining bullish strength.

If LTC buyers overcome this obstacle, enthusiasts can expect a climb towards the resistance at $94.4. Such a move would mean a 30% upsurge from LTC’s current price. Some scenarios can see the token stretching higher towards the psychological level at $100.

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Though things appear upside for LTC price, the alternative token might see sellers dominating if it fails to rally higher. Such a move plus a significant dialing candle closing under $64.6 will cancel the bullish case for Litecoin through a lower low formation. That can see LTC crashing by 63% to retest the $24 range lows.

For now, LTC seems dedicated to swift uptrends while hovering near the $72 vicinity. The alt might witness a 30% upward move to challenge higher obstacles. Meanwhile, bulls should prevent a 24hr candlestick closing under $64.4 to keep the upside case in play.

Also, LTC investors should monitor broad market sentiment to ensure money-making undertakings. Bear controls the market at this publication, annulling all upside trials by assets. Bitcoin fails to cement its spot at or beyond the $30K zone. BTC trades at $29,809, losing 2.08% in 24 hours. Such an outlook might ruin LTC’s upside party. produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

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James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

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