Comprehensive Analysis of Litecoin Movement ($LTC ) Amidst Bullish Momentum
Litecoin (LTC) is experiencing positive technical movement supported by rising momentum on technical indicators and clear on-chain behavior. The price is currently trading within an ascending channel, after forming higher lows and testing repeated resistance levels, reflecting an improvement in the short-term price structure.
From a technical standpoint, the Relative Strength Index (RSI) shows an upward trend without reaching overbought areas, indicating additional room for movement. The MACD crossover in the positive zone enhances the likelihood of the bullish trend continuing, especially with the increasing trading volume accompanying the bullish candles, which suggests the entry of actual liquidity.
In terms of price behavior, Litecoin is currently challenging a resistance area between $118 and $122. A clear breakout of this area could open the door for an upward movement towards $135, while failure to surpass it may lead to a correction towards support levels at $108–110.
From a fundamental perspective, on-chain data indicates a decrease in LTC balances within exchanges, suggesting an asset transfer to private wallets, which is a traditional signal of accumulation. Additionally, whale activity is on the rise, as major wallets are strengthening their positions, reflecting institutional confidence in the bullish trend.
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