Litecoin LTC has shown a notable rise of 2.1% in the past 24 hours, surpassing the $90 resistance level. This upward trend comes amidst uncertainties in the global market, largely driven by geopolitical tensions and shifting economic conditions.
What You Should Know:
- Recently, Litecoin touched the $90 mark during early trading sessions, although prices have slightly corrected.
- Market analysts are observing the price action, noting that a strong support level has formed around $87.90, which could be bullish if maintained.
Broader Context:
The current market fluctuations can also be attributed to President Trump’s latest tariff news that has introduced further volatility into the markets.
Meanwhile, inflation rates in the eurozone have dropped below the European Central Bank’s target, prompting speculation regarding potential rate cuts that might invigorate demand for riskier assets.
Technical Overview:
- Litecoin appears to be establishing solid ground as per CoinDesk Research’s findings.
- Strong support around $87.90 has been established, with signs of volume increases during critical trading hours.
- A double top was noticed near $89.60 before a minor pullback to $89.20, where buyers regained momentum.
- Overall, if current support levels are maintained, another push towards stabilizing above $90 could occur in the upcoming days.
