Litecoin [LTC] Could Eye $ 120 As Bull continues to graze its market

The entire crypto market was painted green with almost every coin recording a surge. Litecoin [LTC], Binance Coin [BNB], Polkadot [DOT] as were many others on an uphill walk. Bitcoin was once again seen trying to break its recently achieved all-time high of $ 23,6642.66. At press time, the king’s coin was trading for $ 23,130.05. After achieving exponential growth throughout the week, XRP was seen to take a break as it was a dwelling with the bears.

Litecoin [LTC] it undoubtedly coincided with the Bitcoin price movement. The digital currency turned several heads after surging past $ 100. At the time of writing, the asset was trading for $ 112.88 with a surge of 4.01% over the last 24 hours. LTC was the star of the latest bull run as it managed to bag earnings of over 48.22% in the past week.

Litecoin [LTC] One Hour Price Chart

One hour price chart of Litecoin [LTC] formed a symmetrical triangle pattern. The pattern was set by a top trend line that included lower highlights at $ 112.05, $ 110 as well as $ 108.91. This was followed by higher lows at $ 102.50, $ 105.52, and $ 105.71 forming the lower trend line. The direction of the breakout process during this pattern is usually uncertain, however, the indicators used in the chart revealed the fate of the asset.

The daily moving average indicator highlighted bullish sentiment in the LTC market. The 50-day moving average [Blue] was seen to be above the 100 daily moving average [Red]. This crossing is noted to be bullish.

Litecoin [LTC] With Key Indicators

Litecoin

In Litecoin’s price chart, all indicators were pointing towards the bulls. LTC seemed to be packing for a long trip up the hill. The Bollinger Bands indicator suggested an increase in volatility as the bands were seen to diverge after a short convergence. The MACD indicator also crossed bullish as the daily moving average. The MACD line was seen climbing above the signal line after remaining below the signal line for quite some time.

Source