based on materials from the site - CryptoFrontNews
Litecoin is trading at a key level, and traders are closely monitoring the price dynamics in the coming days. The current price of LTC is around $119.88, and since the beginning of April, the LTC rate has shown an upward trend, consistently demonstrating higher highs and lows.
According to chart analysis provided by Lucky Chart Ape, the local dynamics of Litecoin now depend on maintaining this upward trend. Traders believe that holding key Fibonacci levels could open the way for growth to $139 and ultimately to historical highs.
The chart shows Fibonacci retracement and extension levels that determine the market direction. The 61.8% retracement level at $113.36 has already acted as a strong support level.
Moreover, this level is important for confirming the current bullish trend. However, a deeper support level is at $88.73, which corresponds to a 78.6% retracement. In the event of a more serious decline in this zone, buying interest may arise.
Additionally, the chart allows for the possibility of divergence towards the $86 range. As a result, Litecoin may show a brief decline before continuing its upward trend. According to this layered perspective, short-term fluctuations may test investor confidence, even if the trend is still active.
Despite the likelihood of pullbacks, the overall upward trend appears to be resilient. The bullish structure is also supported by the April trend line, which continues to provide support.
As a result, a recovery from current levels could accelerate the market's movement towards $139, the next important Fibonacci extension target. This growth is likely to be confirmed by a breakout of the $130 level, prompting traders to participate.
In addition to Fibonacci signals, market behavior also indicates favorable price dynamics. The recent pullback allowed the market to recover before preparing for a stronger rally. Therefore, many traders are opening positions for potential swing longs, expecting Litecoin to return to higher levels.
Moreover, community sentiment reinforces the bullish outlook. Lucky Chart Ape emphasized that setups are not signals but trading ideas. This transparency helps traders assess risk based on technical data.
#MarketRebound , #Сryptomarketnews
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