Summary
TLDR: Litecoin (LTC) price has recovered from losses in mid-March and is close to reclaiming $100. The Reserve Risk and RSI indicators suggest bullishness and potential for further increase. However, long-term holders selling could create resistance at $100, potentially bringing LTC price back down to $86.
Key Points
1. Litecoin (LTC) price has shown recovery in the last few days, almost regaining the losses from the bearish week in mid-March, instilling confidence in investors.
2. Litecoin’s price is currently performing well and is close to reclaiming $100, indicating a bullish trend. The Reserve Risk metric suggests that investors have high confidence in LTC, driving further price increases.
3. The Relative Strength Index (RSI) indicates that LTC is in a bullish zone and poised for a rise, with the next major resistance at $102. However, long-term holders (LTH) liquidating positions could potentially create resistance near the $100 mark, leading to a possible drop in price to $86 if the bullish thesis is invalidated.