For the fourth day in a row, Litecoin is rising.
With increasing prices, the prevailing sentiment in Bitcoin and on global financial markets is assisting LTC.
LTC is in a difficult zone, with a $160 goal for next week.
Several assets are benefiting from the global recovery, and Litecoin is one of them. LTC is on a four-day winning streak, and it doesn’t appear to be ending anytime soon.
Litecoin is on a roll right now. The cryptocurrency is producing green results for the fourth day in a row. For the time being, it does not appear to be coming to an end. With LTC currently trading at $145.00, Litecoin has a 10% chance of reaching the $160.00 target.
Since the drop from LTC to $105.00, we’ve seen a recovery to where we are now at $145.00. There are numerous upside resistances between $138.00 and $157.00 (red zone). However, the first obstacles did not pose any difficulty for buyers, indicating that there is movement inside LTC itself.
Litecoin bounced off the ascending yellow trendline around $117.00 and is now attempting to challenge the descending trendline near $160.00.
The buyers/bulls have a firm grip on LTC, with higher lows and higher highs. The trend appears to be clearing the red zone and heading towards $157.00, which is just a sigh away from the psychological milestone of $160.00.
When you consider the general market sentiment just before summer, with the Nasdaq hitting new all-time highs and Bitcoin on a winning streak as well these past few days, LTC has the perfect setting for buyers to join in and drive Litecoin even higher.
LTC/USD Chart on a Daily Basis
If it can keep this winning streak going and clear the red zone with a lot of resistance, Litecoin has the potential to rise higher towards $160.00. LTC’s technical, as well as psychological, and general emotion, are all pointing to the upside.
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