Summary
TLDR: Litecoin (LTC) price is bouncing at a long-term ascending support trend line and breaking out from a short-term bullish pattern. Weekly RSI is bullish, indicating a potential upward movement towards $100. Daily time frame analysis aligns with bullish readings, with LTC potentially reaching $95 resistance. However, a rejection from $75 resistance could trigger a 12% drop to $68 support.
Key Points
1. The Litecoin (LTC) price bounced at a long-term ascending support trend line and is breaking out from a short-term bullish pattern.
2. The LTC price has increased alongside a long-term ascending support trend line since June 2022, with the trend line existing for 630 days.
3. The weekly Relative Strength Index (RSI) gives a bullish reading, indicating a potential upward movement for Litecoin towards the $100 resistance area.