Litecoin has always been considered one of the most undervalued cryptos because it was the first functional altcoin after Bitcoin. Meanwhile, trader attention to these undervalued tokens has increased in recent times and as a result, prices are rising by huge margins. To be precise, the LTC price is up 15% in the last 24 hours and remains above gains despite the acute bearish activity. Therefore, this suggests that the token is poised to maintain a strong uptrend and regain the lost levels in the coming days.
LTC price has reversed the bearish trend, which is believed to be one of the most bullish signals. It is believed that with this move, the price will maintain a strong uptrend but will rise above the bearish range once the price breaks above the resistance at $121.
LTC price has crushed bearish possibilities after rising above the bearish descending triangle, triggering higher targets. Volume has remained high since the beginning of the month, turning a number of key indicators bullish. The Chaikin Money Flow (CMF) is an important indicator that identifies the flow of money. The indicators have just crossed above ‘0’, highlighting the increasing strength within the markets. This also suggests that prices will continue to rise and therefore a rise above $121 seems imminent.
On the other hand, DMI’s +Di & -Di underwent a bullish crossover; However, this does not confirm a trend reversal. There is no wider spread between the levels, which brings the possibility of a bearish pullback. Moreover, it also shows the weakness of the rally as the ADX remains close to the lower limit. Therefore, this increases the possibility of rejection from USD 121, but if the bulls manage to minimize the losses, a strong recovery could be underway soon. Therefore, Litecoin (LTC) price rally continues to trade under bullish influence but confirmation is awaited.
