🚀 Litecoin Price Rally and Pullback
On November 12, Litecoin (LTC) surged to $82.69 but then pulled back to $76. The recent surge in the crypto market was fueled by Donald Trump’s victory and interest rate cuts by central banks like the Fed and ECB.
📉 Key Resistance and Bearish Pattern
Litecoin faces strong resistance at $82.68, aligning with the upper side of an ascending channel. A bearish engulfing pattern has formed, which could push LTC lower if it drops below $74.5. A further decline could target $68.66.
💰 What’s Needed for LTC to Hit $100
For Litecoin to reach $100 (a 33% gain), it must break past $82.70 and the ascending channel. A golden cross between the 50-day and 200-day moving averages is also essential, along with Bitcoin surpassing $90,000 to drive altcoin gains.
📊 Positive Catalysts for LTC
Data from IntoTheBlock shows short-term holder balances increased by 31% in the last month, indicating potential for a bull run. Litecoin’s hash rate also hit a new high at 1.38 PH/s, and mining difficulty reached a record 46.5 million.
💳 Litecoin Dominates Crypto Payments
LTC remains the top choice for crypto payments, capturing a 33% market share, surpassing Bitcoin (27%) and Ethereum (11%), according to data shared by Litecoin developers.
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