• Litecoin worth reached $110 on Friday, its best possible degree in over 9 months.
• A well-liked crypto analyst says the macro downtrend for LTC could also be over.

Litecoin (LTC) lately trades round $104. But previous within the day, LTC worth hovered simply above $110, its best possible degree since remaining July.

LTC worth reached an all-time prime of $410 in May 2021. While present costs stay means off that height, Litecoin’s newest leap sees analysts expect what might be subsequent.

Litecoin touches $110: Is LTC set for vertical good points?

Before LTC soared greater than 15% on Friday, bulls had discovered it arduous to wreck the mental $100 degree.

Now with worth soaring above the mark, a well-liked crypto analyst says Litecoin worth may prolong good points if bulls reach a per month shut at $122.  

“$LTC needs to Monthly Close above the orange resistance ($122) & turn it into support like in 2020/2021 (green circle) to build on its recent Macro Downtrend breakout. Monthly Closing above $122 has historically been a recipe for success for #Litecoin uptrends,” Rekt Capital shared by way of X.

Before the breakout on Friday, Rekt Capital had noted that LTC may consolidate above $94 amid a brand new macro uptrend.

Litecoin has pumped in fresh weeks amid an general bullish outlook for crypto.

The information that Coinbase used to be having a look so as to add Litecoin futures buying and selling and CFTC’s reference for LTC as a commodity additionally added to the certain outlook.

LTC is one of the altcoins to observe. Notably, Bitcoin’s possible to blow up in coming months amid the halving catalyst is including to LTC sentiment.