🚀 According to AMBCrypto: $LTC price can jump 22%, but not before THIS happens
According to analyst Rekt Capital, Litecoin’s [LTC] price might continue its upswing in the coming weeks.
The analyst posted this on X (formerly Twitter), noting that the successful retest of the multi-year macro downtrend was a sign that the LTC’s price could increase.
From the chart he shared, the altcoin might experience a 22.72% jump. If this is the case, Litecoin might hit $110. At press time, LTC changed hands at $89.74, indicating a 27.99% increase in the last 30 days.
The price of the cryptocurrency also increased in the last 24 hours.
However, AMBCrypto decided to check the chances of a rise to the predicted price. To have a view of this, we employed the liquidation levels indicator provided by Hyblock.
This indicator shows the estimated price levels where large liquidation events might occur. For a trader, an idea of other traders’ possible liquidation levels might offer an edge.
At press time, there was a cluster of liquidity from $90 to $93, suggesting that LTC might move toward this region. Should the price hit this point, a lot of shorts might see their positions wiped out.
However, the Cumulative Liquidation Levels Delta (CLLD) displayed another signal. If the CCLD is positive, it means there are long liquidations.
As of this writing, the CCLD was positive. For the price, this fuels a bearish bias, as Litecoin might undergo a full retracement and erase its recent gains.
If this is the case, the value of the cryptocurrency could tap new lows before it heads toward $110.
On the other hand, a negative reading of the CCLD suggests short liquidations.
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