Rising Litecoin (LTC) price sets its next target to $73.35; buy now
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Brian Bollinger The Litecoin price (LTC), which saw a 52.4% volume increase, showed a strong momentum breakout from the $64.5 resistance. This bullish breakout should increase buying momentum and push prices higher. As the daily RSI slope rises gradually with the bullish territory, the altcoin could surpass the immediate resistance of $69.5.advertisementkey points:The Litecoin price shows a massive breakout from the $64.5 barrier
The 20-day EMA was transformed into suitable support.
The Litecoin coin’s 24-hour trading volume was $1.29 million, a 52.4% increase.
Source-TradingviewAmid the FTX crypto collapse, the panic selling in the crypto market caused Litecoin prices to lose a crucial support of $64.5. The altcoin plunged from $73.7 to $50.31, registering a 31.62% loss. However, the market sentiment improved and the Litecoin price began to recover lost ground. The recent downfall was offset by a bullish reversal at the $50.31 support, which drove the price to $68.6. Trending StoriesThe LTC price broke the $64.5 barrier with a 12% intraday rise, retrying the breakout mentioned earlier. A daily candle closing above the breached resistance will offer a strong footing for buyers to bolster further price growth.With sustained buying, the altcoins should rise 7% higher to surpass another supply zone of $73.4.On a contrary note, a breakdown below $64.5 indicates weakness in bullish commitment.Technical indicatorRelative Strength Index: the daily-RSI slope climbs above the neutral zone, indicating a positive sentiment is returning to Litecoin price.advertisementEMAs: The rising EMAs(20, 50, and 100) accentuate a recovery attempt from market participants. A potential bullish crossover between 50 and 100-day EMAs will also attract more buyers to the market.
Resistance levels: $69.5 and $73.4
Support levels: $64.5 and $61.1
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