Litecoin (LTC) Charges Toward the $130 Mark

For the second time this week, Litecoin (LTC) has secured the second spot on the daily crypto movers list. The coin has experienced an impressive price increase of over 7% in today’s trading session. Given the momentum and trajectory of price movement, it appears that the $130 mark has become a key target. Let’s take a closer look at the market below.

LTC Statistics

Current Price of Litecoin: $125

Litecoin’s Market Capitalization: $9.46B

LTC’s Circulating Supply: 75.47M LTC

LTC’s Total Supply: 84M LTC

Litecoin’s CoinMarketCap Rank: 18

Key Price Levels

Resistance: $130, $135, $140

Support: $125, $120, $115

Litecoin Bulls Gain Momentum

Today’s trading activity in the Litecoin market has been highly profitable, with a surge in bullish sentiment. This increased buying pressure has driven the market past the $120 and $125 price levels. Additionally, price action is positioned above all the Moving Average (MA) lines on the chart, signaling growing bullish momentum.

Meanwhile, the Stochastic Relative Strength Index (RSI) indicator has just delivered a bullish crossover in the oversold region. This suggests that the bullish trend still has room to develop, potentially driving the market significantly higher.

Does LTC Have the Strength to Breach $130?

Litecoin has recorded notable price gains in the current session. However, technical indicators suggest that upside momentum may be facing some strain. The latest price candle on the 4-hour Litecoin chart stands above all MA curves, aligning with trends observed on the daily chart.

Similarly, the Stochastic RSI indicator lines are now in the overbought region. The lead line is already touching the 100 mark while maintaining an upward trajectory. At this point, two potential scenarios could unfold: either the bullish momentum persists, causing the RSI lines to move sideways, or a short retracement occurs before the market attempts another push toward the $130 price level.

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