The post LTC makes a bullish crossover signaling potential price recovery appeared on BitcoinEthereumNews.com.

  LTC has surged by 6.69% over the past 24 hours. With a bullish crossover, Litecoin seems positioned for recovery on its price charts. Over the past three days, Litecoin [LTC] has experienced a sustained uptrend, signaling potential recovery. After declining to a low of $96, Litecoin has surged by 9.38%. At the time of writing, Litecoin was trading at $105, marking a 6.69% increase over the past 24 hours. Before these gains, LTC was on a downward trend, with declines of 3.4% on the weekly chart and 13.97% on the monthly chart. The recent gains prompt questions about the altcoin’s future trajectory. Is LTC on the verge of a sustained recovery, or is this just a market correction driven by New Year speculations? Is LTC ready for a sustained recovery? According to AMBCrypto’s analysis, Litecoin was experiencing strong upward momentum amid increased buying pressure. These market conditions could position Litecoin for further gains on its price charts. Source: TradingView To begin with, Litecoin has experienced a bullish crossover on its Stochastic (Stoch) indicator over the past 24 hours. This indicates that market momentum is shifting to the upside, potentially leading to a price increase. This crossover signals a buying opportunity for many traders. Similarly, Litecoin’s Relative Strength Index (RSI) has also shown a bullish crossover, further confirming increased buying activity. With heightened buying pressure, demand could drive prices higher. Source: IntoTheBlock Looking further, this observed buying pressure is largely driven by whales. As such, large transactions have surged by 31.3% over the past day. With whales entering the market, it seems they are bullish and anticipate further gains. Source: Coinglass Additionally, this bullishness is further evidenced by increased demand for long positions. According to Coinglass, longs are dominating the market with 53% of the total. With longs dominant, it…

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Filed under: News - @ January 2, 2025 3:03 am