Expert Predicts Upcoming ~50% Litecoin (LTC) Price Spike – Here’s the Condition

LTC price has declined by around 25% in the past two days. This is a part of the downward price move that many altcoins are having.

Expert Predicts Upcoming ~50% Litecoin (LTC) Price Spike – Here’s the Condition

Litecoin (LTC) price has seen a decline of about 25% over the past two days. This is part of the broader downward price trend that many altcoins are currently experiencing. However, even with this recent drop, there might still be reason for optimism despite this recent drop.

Litecoin is currently being traded at $104.84. As the daily chart from @ali_charts shows, LTC fell sharply from above $125. The price is now drawing near a key support level, placed in the $98 zone. This level is especially important and will likely determine the direction of the next price move.

The $98 zone has been tested on multiple occasions in the past. Whenever Litecoin dropped to this price, we saw buyers enter the market. As @ali_charts highlighted, this support zone is crucial for the return of buyers in significant numbers.

If the $98 support holds firm, we might witness a strong bounce back from Litecoin. According to the analysis by @ali_charts, if this scenario plays out, Litecoin could test the first resistance at $125. After clearing this level, it might continue its upward journey toward the upper resistance, potentially reaching $135.

This potential increase from the current price to $135 would provide traders with an approximate 50% gain. LTC price has demonstrated the capability to generate such substantial moves in the past, especially after finding robust support.

However, there are still some risks that traders need to be aware of. If Litecoin price drops below the $98 support, it might continue falling to the $93-$91 range. A breakdown below $91 could invite more sellers according to @ali_charts.

Overall, Litecoin is currently facing pressure to move lower. However, the $98 support identified by @ali_charts could be the foundation for a strong recovery. As this level is approached, it will be interesting to observe whether LTC continues falling or jumps back toward $135.