Technical Indicators Reflect Growing Bullish Momen

Technical Indicators Reflect Growing Bullish Momentum

Short-term charts also bolster the positive Litecoin prediction. The Relative Strength Index (RSI) is at 60–64, reflecting strengthening upward momentum without reaching overbought levels. Moreover, the Moving Average Convergence Divergence (MACD) recently showed a bullish crossover, hinting at a trend continuation potential.

Litecoin is likely nearing the end of its correction, with momentum expected to shift upward in August following a shakeout of over-leveraged positions. Source: Bitgolder on TradingView

Litecoin has rebounded from recent intraday lows of $108, with buyers appearing near $110 and resistance building around $112.50. A move above the $113–$115 resistance zone could activate a near-term rally towards $120 and possibly more. Volume is the key watchpoint here—further trading activity above these levels is necessary in order to avoid retracement towards lower support levels like $109 or even $95.

The broader technical landscape is supported by long-term support from the 50-day and 200-day moving averages that Litecoin continues to trade above. These averages not only act as safety nets for bulls but also amplify market confidence.