π Last week, Litecoin completed a break and retest pattern after losing momentum in the mid-month. It bounced stronger and now faces a crucial mark level. The bulls are back, negotiating for higher ground. ππͺ
π° Following the recent bounce off $77, Litecoin surged and closed above $90. It tested the $99 level this week, encountering slight rejection.
π The rally appears to be just starting, with bigger moves expected in the long term. The $100 mark is crucial for initiating a stronger rally. ππ
π‘ However, a slight rejection suggests bearish pressure. Bears defending well could prompt a pullback, seeking nearby support for a fresh increase.
π Despite potential obstacles, the short-term bullish trajectory remains intact. The mid-2023 high serves as a key resistance for a mid-term surge. ππ
π₯ Facing the $100 mark, watch for resistance at $105.7, $115, and $120, while support levels lie at $95, $91, $85.5, $80, and $77.
π Spot Price: $97.6
π Trend: Bullish
π Volatility: High