Litecoin (LTC) is making a strong comeback as a bullish reversal takes place, setting the stage for a potential move toward the $76.85 target. After bouncing off a critical support level, Litecoin has regained upward momentum, signaling renewed optimism among market traders. Key technical indicators now point to further gains, with $76.85 emerging as the next significant resistance level.
Litecoin has increased by 2%, trading around $65.37 in the last 24 hours. Its market capitalization has exceeded $4.8 billion, with a trading volume surpassing $410 million at the time of writing. Litecoin’s market cap has grown by 2%, while its trading volume has surged 42.12%.
Analyzing Litecoin’s bullish reversal to $76.85, the price on the 4-hour chart is bullish, having crossed above the 100-day Simple Moving Average (SMA) as it approaches the $76.85 level. The digital asset has experienced a significant price increase since rebounding from the $50 support level, signaling a strong rise in positive momentum that could drive further gains. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently trending around 63%, suggesting that the bulls are still in control and could drive the price higher.
On the 1-day chart, although Litecoin is still trading below the 100-day SMA, it demonstrates upbeat resilience, steadily advancing toward the 100-day SMA and the $76.85 level, with multiple bullish momentum candlesticks forming. This suggests active bullish momentum for the cryptocurrency. The RSI indicator also indicates rising positive momentum, with the signal line moving out of the overbought zone and currently attempting a move above 50%.
Recent trading indicates that Litecoin, with its strong bullish momentum, could reach the $76.85 level. If the cryptocurrency reaches and surpasses this resistance, it may trigger further positive moves toward the next resistance at $89.74. If this level is breached, it may lead to further price gains toward the $105.9 resistance level and beyond. Conversely, if bearish pressure prevails and Litecoin fails to break through the $76.85 resistance, the price could decline toward the $57.41 support. A drop below this level may lead to a further decline to test the $50 support, with additional downward movement possible if this range is breached.
 sees bullish momentum, eyeing the $76.85 target after a critical bounce. Market optimism rises as key indicators point to further gains.){kind=link}