The recent surge in Litecoin (LTC) price propelled it to reach a significant psychological level of $100. This upward movement has provided a bullish boost and allowed the altcoin to register gains in recent trading sessions. However, despite this bullishness, the price of LTC remains within bearish territory, indicating ongoing downward pressure. Reclaiming the $100 price mark is crucial for sustaining a bullish trend. Related Reading: XRP Dips After SEC’s ETF Blow But A Rebound Looks Likely In the past 24 hours, LTC has experienced a rally of nearly 17%. On the weekly chart, the altcoin has maintained double-digit gains, reflecting its positive performance over a longer period. It’s worth noting that Litecoin’s halving event is just a little over a month away. Historically, the price of the asset tends to increase before this event. However, due to the fluctuating nature of Bitcoin, which often influences major altcoins, LTC might experience slight depreciation. Significant depreciation is less likely as long as LTC maintains its price above the local support level. A sustained increase in demand for the al ..
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