This indicator suggests that LTC is likely to turn vertical soon

Litecoin price has gained significant attention in the cryptocurrency market as analysts anticipate a possible altcoin rally. Last month, LTC recorded a remarkable 31% increase, fueling optimism among traders. As the broader crypto market experiences an uptrend, Litecoin’s performance is poised for further gains. If market conditions improve, the LTC price trend could indicate a vertical rally, which would attract renewed investor interest.

Litecoin price is showing a strong signal of a possible vertical rise

The crypto analyst has observed a promising signal for Litecoin price, suggesting that the cryptocurrency could be on the verge of a significant bullish move. Recent market indicators point to a possible rally in the near term, with technical analysis suggesting that LTC could be on the verge of a vertical price rise.

Top analyst Highlight that key price levels and chart patterns show signs of bullish momentum. The most notable of these indicators is a strong support level, which has historically acted as a floor for Litecoin price. This suggests that any upward move from this point forward could trigger a surge and push the cryptocurrency to new highs.

How High Can LTC Price Go This Month?

A well-known crypto analyst has predicted a possible rise in Litecoin price, suggesting that the coin’s rise could be in its early stages. The analyst highlighted that Litecoin rose an impressive 9,730% in 2017 and 587% in 2021 after breaking its trend line.

According to the expert, Litecoin is currently approaching a crucial Fibonacci retracement level of 0.236. This could signal a breakout and push the coin towards $1,440, a 1,000% increase from its current price. Since it has only been 20 days since the recent trendline break, the analyst believes that Litecoin’s uptrend is just beginning.

At the time of reporting, the Price of LTC is trading at $127, a significant increase of 32% in just one month. Over the past 30 days, LTC has seen an impressive 90% increase, attracting a lot of attention from traders and investors alike.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both signal bullish momentum, suggesting further potential for price gains.

If the uptrend continues, the Litecoin price prediction could reach a target range between $140 and $150. This represents a significant potential gain from current levels. If the positive momentum continues, there is even a possibility that LTC could rise to $200, representing a potential gain of 100%.

In summary, Litecoin’s strong technical indicators and recent price increase suggest a promising bullish outlook. If key resistance levels are broken, LTC could see significant gains, with experts predicting significant growth in the coming weeks.

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Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.