$LTC - Bullish breakout to $125? 🚀
Litecoin (LTC) has increased by 6.19%, currently trading at $118.31, after bouncing back from a low of $109.10. The price tested the level of $119.35, which indicates a key resistance zone.
🔹 Entry range: $117.50 - $119.00
🎯 Target 1: $121.50
🎯 Target 2: $125.00
🛑 Stop point: $114.50
📊 Market overview:
Support at the level of $115.00-$116.00 remains strong, facilitating further upward momentum.
Resistance at the level of $119.50-$121.50 needs to be overcome for continuation.
A confirmed breakout above $121.50 could push LTC to $125.00+.
🔎 Key observations:
1️⃣ Strong breakout: LTC printed a large bullish candle, signaling momentum.
2️⃣ Increased volume: Increased volume indicates strong buying pressure.
3️⃣ Trend confirmation: Holding the level of $117.50 will maintain bullish momentum.
4️⃣ Bearish movement risk: A drop below $115.00 could trigger a retest of $112.00-$110.00.
⚠️ Caution: If LTC fails to overcome $119.50, consolidation or a pullback may occur before another attempt to rise above.