Litecoin (LTC) Outlook is Becoming Stronger Daily Following the Latest Increase

Litecoin (LTC) outlook is becoming stronger daily following the latest increase. It just saw a rejection after witnessing a slight break.

Litecoin (LTC) price analysis reveals a promising outlook with a 7% gain in the last 24 hours, emerging as the second-highest gainer after ENA. Dropping to $50 during the bearish correction, LTC has recovered significantly, now trading above $70 after a three-day surge.

Compared to last week's trading, which saw a calm period above $63, this week's price action has been explosive, reaching a new milestone. The daily chart shows a potential shift in the market structure as the price briefly touched last month's resistance, setting the stage for a breakout.

If the breakout materializes, the next targets for the bulls will be July's high and other monthly highs lost during the correction. A recovery above $113 could pave the way for a substantial long-term price explosion.

On the bearish front, a price drop below the recent bottom level is necessary to validate further downside movement. At the moment, the bulls maintain control, and further growth is anticipated.

LTC Key Levels To Watch

As the bulls face minor hurdles, the target resistance level to watch for an upswing is $77 – July's high. If the market fails to pull back from there, $84 and $89.6 would be the next level for tests.

In case of a price drop, the closest support level for a pullback is $68. Below it lies $64. Breaking lower, the $60 level is the next support to watch.

Key Resistance Levels: $77, $84, $89.6

Key Support Levels: $68, $64, $60

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