- Litecoin price breaks $119.45 resistance level and targets $168, and that is at a very high bullish momentum that is supported by the 50 week MA.
- Lightcoin price is on the Uptrend, with higher lows on the rise and higher highs on the rise, the next key target being $168.
- Volume surge above $119.45 will confirm Litecoin price continued upward push toward $168.
The rally has sparked Litecoin price higher with the next major target at the upside pacing 168.00 as well. The road to this level is dependent on the current and maintained high volume and volume over-calling as a long-term bullish trend may see future price levels soaring even further.
Litecoin Price Targets $168 After Breaking $119.45 Resistance
Litecoin price has recently surged past a key resistance level, igniting speculation about the potential for further gains. The breakout above $119.45 has raised questions about whether Litecoin price can continue its upward trajectory and surpass the $168 mark.
Analysis by Jonathan Carter This price action has generated increased optimism among traders, suggesting that Litecoin may be entering a new phase of upward momentum.
Source: X
However, to break through the $168 resistance, there are a number of concerns that have to be in concurrence. This continued positive volume and purchasing activity will be necessary to keep the market on a bullish run and to prove that this counter-level can be sustained. In case these conditions are fulfilled, then Litecoin price may find it in a position to target even higher price zones in the short run.
The litecoin price has breached a descending triangle pattern, possibly opening up a bullish trend. Analyst Rose Premium Signals indicates that there is a clear progression in the price action of higher lows growing out of higher lows and higher highs which indicate an upward trend.
The 50-week moving average (MA 50) has been trending upwards since mid-2023, providing solid support for the price. Litecoin price has consistently bounced off the MA 50, particularly around the $100-$110 zone, reinforcing the bullish outlook. If Litecoin can hold above $125, the breakout level, it could move toward price targets of $168.53, $198.66, and potentially $227.97 in the long term.
Source: X
A breakout to a higher level above $119.45 higher volume would mark a bullish move of the up-trends. Conversely, when the breakout comes with low volume, it might just be a case of false breakout and thus the price may reject.
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