Litecoin must close November above this price level to confirm new uptrend

[ad_1] <div> The value of Litecoin (<a target="_blank" href="https://finbold.com/cryptocurrency/litecoin/" rel="noopener">LTC</a>) surged on November 23, with LTC including <a target="_blank" href="https://finbold.com/1-billion-inflows-into-litecoin-in-a-day-ltc-to-hit-100/" rel="noopener">over $1 billion to its market capitalization</a> in 24 hours. Given the rise within the value of Litecoin, pseudonymous <a target="_blank" href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener">crypto trading</a> professional Rekt Capital <a target="_blank" href="https://twitter.com/rektcapital/status/1595430339832422405" rel="noreferrer noopener nofollow">noted</a> on November 23 that the month-to-month shut for LTC wants to carry above $67 for the <a target="_blank" href="https://finbold.com/category/cryptocurrency-news/" rel="noopener">cryptocurrency</a> to proceed transferring greater in December based mostly on the earlier upside wicks: <blockquote class="wp-block-quote"> “LTC upside wicks have gone as much as as excessive to the $85-$98 area (blue) earlier than finally rejecting there. Worth must Month-to-month Shut & maintain above $67 to maneuver greater subsequent month.” </blockquote> <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="709" src="https://finbold.com/app/uploads/2022/11/new-macro-uptrend-1.jpg" alt="" class="wp-image-91111" srcset="https://finbold.com/app/uploads/2022/11/new-macro-uptrend-1.jpg 1000w, https://finbold.com/app/uploads/2022/11/new-macro-uptrend-1-300x213.jpg 300w, https://finbold.com/app/uploads/2022/11/new-macro-uptrend-1-768x545.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px"/><figcaption class="wp-element-caption">LTC month-to-month shut. Supply: Rekt Capital</figcaption></figure> Rekt added: <blockquote class="wp-block-quote">

“$LTC has a historical past of performing upside wicks (yellow circles) past the historic Accumulation Space (inexperienced) solely to reject deeper into that demand space. To substantiate a brand new macro uptrend, #LTC wants to remain above $67 after a Month-to-month Shut.” </blockquote> On the similar time, given its bullish momentum, LTC/BTC commerce has damaged out from a macro downtrend relationship again to January 2020. <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="709" src="https://finbold.com/app/uploads/2022/11/down-trend.jpg" alt="" class="wp-image-91112" srcset="https://finbold.com/app/uploads/2022/11/down-trend.jpg 1000w, https://finbold.com/app/uploads/2022/11/down-trend-300x213.jpg 300w, https://finbold.com/app/uploads/2022/11/down-trend-768x545.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px"/><figcaption class="wp-element-caption">LTC/BTC downtrend breaks. Supply: Rekt Capital</figcaption></figure> <h2 id="h-can-litecoin-reach-100">Can Litecoin attain $100?</h2> Elsewhere, outstanding crypto analyst Altcoin Sherpa <a target="_blank" href="https://twitter.com/AltcoinSherpa/status/1595420046880346113" rel="noreferrer noopener nofollow">noted</a> that after flipping the 200-day exponential transferring common (EMA), the subsequent degree up for LTC can be $100 if it continues its upward momentum. <blockquote class="wp-block-quote"> “$LTC: Ranges right here on HTF charts. Loopy strikes the previous few days, who would have thought #Litecoin would have any such success? 200d EMA flipped however some key ranges are right here. $100 can be subsequent lvl up if this continues strongly (nonetheless not shopping for right here tho)” </blockquote> <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="429" src="https://finbold.com/app/uploads/2022/11/100-ltc.jpg" alt="" class="wp-image-91113" srcset="https://finbold.com/app/uploads/2022/11/100-ltc.jpg 1000w, https://finbold.com/app/uploads/2022/11/100-ltc-300x129.jpg 300w, https://finbold.com/app/uploads/2022/11/100-ltc-768x329.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px"/><figcaption class="wp-element-caption">LTC might run to $100. Supply: Alton Sherpa</figcaption></figure> In the meantime, with the sudden surge within the asset, the crypto social intelligence platform identified that on November 22, social engagements reached their highest degree in over a 12 months: <blockquote class="wp-block-quote"> “Litecoin social engagements measured each day hit 99.91M, the very best level in over a 12 months! It’s time to begin listening to LTC.” </blockquote> <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="512" src="https://finbold.com/app/uploads/2022/11/ltc-1-year-1024x512.jpg" alt="" class="wp-image-91114" srcset="https://finbold.com/app/uploads/2022/11/ltc-1-year-1024x512.jpg 1024w, https://finbold.com/app/uploads/2022/11/ltc-1-year-300x150.jpg 300w, https://finbold.com/app/uploads/2022/11/ltc-1-year-768x384.jpg 768w, https://finbold.com/app/uploads/2022/11/ltc-1-year-1320x660.jpg 1320w, https://finbold.com/app/uploads/2022/11/ltc-1-year.jpg 1500w" sizes="(max-width: 1024px) 100vw, 1024px"/><figcaption class="wp-element-caption">LTC social engagements. Supply: LunarCrush</figcaption></figure> Regardless of the curiosity across the asset, Finbold <a target="_blank" href="https://finbold.com/litecoin-ltc-price-prediction-for-december-31-2022/" rel="noopener">reported</a> that the Litecoin neighborhood on <a target="_blank" href="https://finbold.com/guide/best-crypto-data-websites/#CoinMarketCap" rel="noopener">CoinMarketCap</a> stays <a target="_blank" href="https://finbold.com/guide/bear-market-definition/" rel="noopener">bearish</a> on the coin, projecting LTC will commerce at a median value of $58.36 by December 31, 2022. At present, LTC is buying and selling at $10.23, up 11.2% within the final 24 hours, as per Finbold knowledge on the time of publication. Disclaimer: The content material on this website shouldn't be thought of funding recommendation. Investing is speculative. When investing, your capital is in danger. </div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> [ad_2] <a href="https://news.google.com/__i/rss/rd/articles/CBMiX2h0dHBzOi8vZmluYm9sZC5jb20vbGl0ZWNvaW4tbXVzdC1jbG9zZS1ub3ZlbWJlci1hYm92ZS10aGlzLXByaWNlLWxldmVsLXRvLWNvbmZpcm0tbmV3LXVwdHJlbmQv0gEA?oc=5">Source link </a>