Litecoin is exhibiting market patterns reminiscent of its 2017 bull cycle, driven by renewed accumulation and a breakout from a long-term ascending channel. The cryptocurrency is currently priced at $100.739, with analysts pointing to ETF approval, Layer-2 scaling, and privacy upgrades as significant factors fueling optimism.
Traders are drawing parallels to Litecoin's 2017 performance, which saw a 50x increase, with current chart patterns reflecting that historic breakout. Key resistance levels are identified at $379.41, $4,469.64, and $24,475. However, analysts like EliZ advise caution, noting that a stronger confirmation above these resistance levels is necessary before a substantial upward move can be confirmed.
Litecoin Mirrors 2017 Bull Cycle Amid ETF Approval and Institutional Interest
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