Litecoin (LTC) on the night of Wednesday, April 19, strengthened to $101.05. Over the past seven days, the capitalization of the cryptocurrency has increased by almost 7% to $7.349 billion.
The LTC surge became possible after overcoming the resistance around $98. The nearest support zone that the altcoin can count on has formed at $95.
If Litecoin holds above $100 in the next 24 hours, then this psychological mark could become a new foothold for the digital currency, analysts say.
On the Kraken exchange last Tuesday, LTC was close to $103, but under pressure from the bears, the coin retreated.
The nearest zone of strong resistance has formed in the range from $103 to $105. If this barrier is overcome, Litecoin will be able to soar to $110 or even to $115.
The Relative Strength Index (RSI) is still signaling that the asset is oversold. That is, the ascent can continue at least until the end of today’s session.
Even if the bearish trend returns to the market, Litecoin should still hold above $100. Most investors are not interested in a strong drop in LTC before the August 2023 halving, experts say.
