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Litecoin is trading in the $88 range after a 4% surge. LTC’s daily trading volume has jumped by more than 31%. With the neutral sentiment in the crypto market, the assets exhibit mixed signals. The largest asset, Bitcoin, trades at $94.6K, while Ethereum hovers at $1.8K. Meanwhile, Litecoin (LTC) has registered a solid 4.47% gain.  Litecoin opened the day trading at a low of around $84.15 before the bulls took control. The emerging bulls have sent the price to a high of $90.88. The asset has broken through the crucial resistance level at $89.77. LTC traded within the $88.61 range at the time of writing.  Furthermore, the market has witnessed a liquidation of $1.22 million worth of Litecoin, as per Coinglass data. In addition, the daily trading volume of the asset has increased by 31.93%, reaching $509 million.  Will LTC Build on Its Recent Momentum? The four-hour price chart of Litecoin reports the positive momentum, with adequate room for further upside recovery. The asset could jump to its initial resistance at the range of $89.78. Upon clearing this level, LTC might eye the crucial $93 to hit the $100 level. Assuming a reversal of the uptrend is likely to flip to the negative zone, forms a potent death cross. It will let Litecoin retest the $87.11 support. If this support level collapses, the LTC price could fall back toward the $84 mark, acting as a crucial price point for the asset. LTC’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line, signalling a bullish crossover. The upward price trajectory may continue as buying pressure builds.  Moreover, the Chaikin Money Flow (CMF) indicator is positioned at 0.02, implying a mild bullish bias with modest capital inflow into the asset and a slight positive buying pressure in the market. …

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Filed under: News - @ May 2, 2025 10:25 am