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Bluntz, a leading figure in the cryptocurrency world, indicated that a significant upward opportunity for Litecoin (LTC) is imminent. Addressing his 315,900 followers on social media, the experienced crypto strategist noted that Litecoin is showing strong signals against both the US dollar and Bitcoin 
$83,790 pairs. Technical analyses predict that Litecoin’s price could break the resistance level at $147, potentially rising to $180.
What Do the Technical Analyses Reveal for Litecoin?
According to Bluntz, Litecoin has completed an ABC correction wave against the US dollar and created a swing failure pattern (SFP) signal on the weekly charts against Bitcoin. Such technical formations are viewed as indicators of the beginning of an upward movement. Elliott Wave Theory also suggests that after a correction is completed, a new five-wave upward movement is expected.
Bluntz emphasized that breaking the $147 resistance level indicates that the price could rise to $180, as the market gains positive momentum in anticipation of a potential ETF approval. He also mentioned that he hasn’t seen such a clear upward signal for Litecoin in a long time.
Positive Expectations from Market Experts
Another notable voice highlighting Litecoin’s upward potential is experienced cryptocurrency investor Peter Brandt. Brandt stated that Litecoin tends to draw strong charts after trading above $100.
These positive remarks have led to a resurgence of interest in Litecoin among both investors and technical analysts. Market observers continue to assess the likelihood of Litecoin surpassing established resistance levels to reach higher prices.
Based on technical analysis data, Litecoin has a high potential to maintain its upward trend in the short term. This situation increases investors’ positive expectations for the market and encourages close monitoring of Litecoin.
