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According to a recent post by CryptoWzrd, the daily technical outlook for Litecoin is aggressively bullish, with the crucial LTC/BTC pair spiking sharply upside, signaling a major injection of capital.
Litecoin And LTCBTC Close Bullish, Setting Stage For Further Upside
Presenting his technical outlook, CryptoWzrd highlighted a strong bullish performance from Litcoin, noting that both the LTC/USD and LTC/BTC pairs closed with impressive upward momentum. He explained that most of Litecoin’s strength came from a sharp spike in LTC/BTC. The synchronized move between the two pairs reflects renewed buying interest and suggests that bullish sentiment is building in the short term.
According to CryptoWzrd, the next key step for LTC/BTC is to break out of its range high, a technical milestone that could unlock further upside for Litecoin. A successful breakout from this structure may serve as the trigger for a rally toward the $112 resistance level, or even higher if momentum accelerates.
The analyst also underlined the importance of holding above the $96 support zone, making it a key level that sustains Litecoin’s bullish structure. Maintaining price stability above this mark would reinforce the positive outlook and prevent a return to bearish conditions. Losing this level, however, could signal weakness and limit the potential for a continued advance in the near term.
Looking ahead, CryptoWzrd expects heightened volatility to persist. Thus, he revealed that his focus will shift to lower time frame chart formations in the upcoming sessions, where he plans to identify and execute quick scalp setups as price action develops. This approach reflects his tactical trading style, aiming to capitalize on short-term movements while keeping a close eye on broader breakout signals.
Volatility Reigns As Litecoin Holds Bullish Tone On Intraday Charts
In conclusion, CryptoWzrd noted that Litecoin’s intraday chart displayed strong bullish behavior accompanied by heightened volatility throughout the session. The rapid price swings reflected increased trader activity and growing market momentum, suggesting that LTC could be setting up for another significant short-term move.
He explained that while a brief pullback below the $101.50 support level is possible, such a dip may simply serve as a temporary correction within the broader bullish structure. A renewed breakout above this level would likely present fresh long opportunities, signaling a continuation of Litecoin’s upward momentum.
CryptoWzrd also emphasized that Bitcoin’s price action will play a critical role in shaping Litecoin’s next direction. Since LTC often reacts to BTC’s broader market moves, strength or weakness in Bitcoin could directly influence whether Litecoin extends its rally or consolidates further.
Featured image from iStock, chart from Tradingview.com
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