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Litecoin (LTC) Reaches $110, Looking for Verticle Gains

Yesterday, Litecoin’s price value touched $110 which is the highest level that the token has achieved since July last year.

ShahZaib Ahmed

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LTC Price Analysis

Litecoin, the crypto token that offers rapid payments, is currently changing hands at $104. Nonetheless, a day before, its value touched $110 which is the highest level that the token has achieved since July last year.

Back in 2021’s May, the crypto token touched its all-time price of nearly $410. However, the price of LTC presently stands at a significant distance from that level. The latest price spike of the coin pushes analysts to predict what is to come.

LTC Touches $110 and Analysts Predict More Gains

Before the token hovered above fifteen percent on Friday, the prominent LTC holders faced some difficulty. Hence, they have been struggling to surpass the psychological level of up to $100. At the moment, the price of the token is moving around that mark.

Related: Litecoin Prices Jump by 8% as the LTC Bulls Eye $100 as the Next Target

The well-known crypto analysts think that the price of the coin could see massive gains. However, this will only come true if the bulls take it to $122.

Ensuring the price level of $122 at the month’s close will likely ignite the Macro Downtrend breakout. In this respect, a famous crypto analyst “Rekt Capital” took to X to discuss Litecoin’s price movement.

tradingview chart

As per the analyst, reaching a monthly close spot of $122 has been a historical recipe for the token. Nonetheless, before the breakout of Friday, the analyst had said that the token could hardly consolidate nearly $94.

Coinbase’s Endeavor to Include LTC and Bitcoin’s Bullish Sentiment Strengthen the Token’s Status

In recent days, the crypto coin has gone through several price pumps while it presents an overall bullish scenario. The news about the popular crypto exchange Coinbase’s pursuit of the inclusion of Litecoin futures has also been quite influential.

LTC is potentially among the altcoins that are grasping considerable attention in the market. Moreover, the potential of the biggest crypto Bitcoin to get enormous gains in the next months is also adding to the market sentiment around LTC.

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