Technical analysis by Coinpedia-Market-Insight about Symbol LTC: Buy recommendation (10/18/2024)

Litecoin surges 13.43% in five days, breaking the $73 resistance.LTC price forms a V-shaped reversal, leading to a rising channel rally.Currently trading at $72.27, Litecoin tests the overhead resistance trendline.The intraday candle shows price rejection at the 38.20% Fibonacci level near $76.A minor pullback is possible following rejection from the $76 mark.The 200-day EMA provides strong support at $70.66, sustaining bullish momentum.An uptick in the 50-day EMA suggests a potential golden crossover soon.MACD and signal lines remain positively aligned, reflecting increased bullish strength.A breakout above the $82 mark could target the 78.60% Fibonacci level at $97.77.Litecoin needs to surpass the $82 resistance to potentially hit $100.If a pullback occurs, key support levels are at $68.53 and $60.Litecoin's bullish channel formation signals continued upward momentum toward $100.