Litecoin priceIt has dropped lower as it fell inside the demand zone, showing that the bullish outlook remains intact. Looking further ahead, investors can expect LTC to rise even higher as the crypto markets are bullish.
Litecoin (LTC) The price has dropped 18% in the last four days, and the daily demand zone has tumbled from $107.23 to $116.07. This move appears to be bullish due to the nature of the support and LTC set a higher bottom than the February 3 low.
Investors who want to invest in LTC can open long positions by investing at the current market level and LTC priceIt can wait for s to create an equal or higher peak.
Therefore, traders can expect LTC to continue to rise. There is an immediate resistance barrier at $132.53. However, if bid orders pile up, Litecoin price could go as high as $143.04, raising the overall earnings from 17% to 26%.
While things are looking for Litecoin price, breaking the lower limit of the daily demand zone at $107.23 will create a lower bottom and invalidate the bullish argument. This will also be a good level for market participants to place their stop loss here.
An increase in sell-side pressure could force Litecoin price to retest the $100.85 support level.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.