Litecoin Eyes $140 Surge: Is Now the Time for Long-Term Investment?
Litecoin (LTC) shows upward momentum from the $77-$79 support zone, targeting $105 and $140 levels.
Developments such as MimbleWimble integration and Grayscale investment are increasing investor interest.
âIf LTC prices sustain above $105, the bullish trend could continue towards the $140 mark.â
This article explores Litecoinâs potential ascent to $140, highlighting recent developments and technical analysis that bolster its investment appeal.
Examining Litecoinâs daily technical chart, we observe a notable upward movement from the daily support zone of $77-$79. This signifies Litecoin re-entering a bullish trend. As long as the price stays above the mentioned support zone, LTC aims for $105 and subsequently $140 levels. Achieving daily candle closures above $105 would fortify this trend, driven by strong volume from the weekly timeframe, increasing the likelihood of reaching the $140 milestone.
Looking at the 2-hour technical chart of Litecoin, itâs evident that maintaining above the highlighted blue zone targets a $91 goal. Should LTC price dip towards the blue support area, spot investments become considerable. Unless thereâs a 4-hour candle close below $80, Litecoin aims to elevate towards $91 and then $104 levels. Investors are advised to monitor the blue zone as a support indicator. A drop towards the blue zone with a stop below $80 could warrant entering long positions.
Impacting Developments
Recent advancements are setting the stage for a potential price surge in Litecoin. The integration of the MimbleWimble protocol enhances LTCâs privacy and scalability features, drawing increased attention from privacy-focused investors. Moreover, Grayscale Investmentsâ stake in Litecoin funds further legitimizes its market position, suggesting a growing institutional interest that could drive the price upwards.
