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Litecoin (LTC) and Avalanche (AVAX) have recently caught attention with robust price recoveries. Litecoin has fully compensated for its sharp losses from early February and is nearing its annual peak. Meanwhile, Avalanche appears to be at the end of a prolonged correction, potentially poised for a new upward movement. Technical analysis indicates a strong upward potential for both cryptocurrencies.
Can Litecoin Reach 170 Dollars?
Litecoin peaked at 147 dollars in December 2024 but began to decline, moving within a long-term downtrend channel. However, in February, LTC exceeded the mid-level of the channel and climbed to 140 dollars by February 19. Despite facing resistance at this level, the price seems likely to continue its upward trajectory.
Technical indicators support the likelihood of Litecoin achieving a breakout. Daily charts show positive signals from the RSI and MACD indicators. According to Elliott Wave theory, Litecoin could structure itself to reach the 170-dollar level, although a pullback to around 80 dollars should not be overlooked after reaching this level.
If LTC coin remains above 140 dollars, it might target 170 dollars. Otherwise, a decline towards 80 dollars is possible.
Avalanche Completes Correction and May Rally
Avalanche entered a downtrend channel after reaching 65 dollars in March 2024, dropping to 24 dollars. However, the wedge formation created during this decline and technical indicators suggest that recovery is imminent.
The daily RSI indicates a reduction in downward pressure, and a volume increase alongside surpassing 26 dollars could serve as a significant bullish signal. According to Fibonacci levels, 29.25 and 36.13 dollars are critical thresholds for upward movement.
Based on Elliott Wave theory, the AVAX price is in the final stage of an ABCDE structure and may rise after forming a final bottom. However, falling below 18 dollars could heighten the risk of further declines.
Overall, if AVAX coin surpasses 26 dollars, it may progress towards 29.25 and 36.13 dollars. The 18 dollars level represents a risky zone for the cryptocurrency.
