- Michael van de Poppe shared on Twitter that he believes LTC’s upward price movement could continue.
- LTC’s price rose by more than 2% over the past 24 hours to trade at $100.30 at press time.
- If LTC can close today above $97.23, the altcoin’s price could climb to $102.30 in the next few days.
Renowned crypto trader and analyst, Michael van de Poppe, shared on Twitter earlier today that he believes the “markets are reversing” in a good way. Van de Poppe specifically pointed out his bullish thoughts regarding Litecoin (LTC), and revealed that he believes LTC’s price could continue its upward movement.
CoinMarketCap indicated that LTC saw its price rise by about 2.86% over the past 24 hours of trading. This left the crypto trading hands at $100.30 at press time. As a result, LTC was trading just below its daily high of $100.37 as well.
However, LTC still had some work to do to pull its weekly performance back into the green as the altcoin remained down by more than 4% over the past seven days. Meanwhile, LTC’s 24-hour trading volume stood at around $654,759,673 after it increased by more than 29% throughout the past day.
Its market cap of $7,366,856,319 meant that LTC was ranked as the 10th biggest cryptocurrency in terms of market capitalization. This once again placed LTC in front of Tron (TRX) in the 11th position.
LTC was able to break above the major resistance level at $97.23 over the past 24 hours, and continued to trade above the significant price point at press time. A daily close above this mark today will turn it into support, and will clear a path for the altcoin to climb to $102.30 in the coming few days.
If LTC is able to break above $102.30 in the coming week, then it may continue to rise to $109.72 in the following week. Traders and investors may want to monitor the positive trend line that was present on LTC’s daily chart, however. This line had formed following a series of higher lows printed by LTC over the past few weeks.
The latest higher low was established yesterday, which means that LTC may still drop below the trend line in the next 24-48 hours. Should this happen, the altcoin’s price may fall to $91.01 in the following couple of days.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
