Litecoin Forecasts and Analysis

The cryptocurrency market has witnessed a strong recovery in recent days.

This is due to the approval of the Genius Act, 

which aims to establish clear rules and regulations for cryptocurrency transactions 

in the United States, with a 100% reserve requirement.

Billions of dollars are expected to be injected into the cryptocurrency market,

 which could lead to a continued upward trend in the long term.

Litecoin has surpassed strong resistance levels at $106.9, 

which could push the currency to reach important selling points

 that could lead to a correction before resuming its upward trend.

Technically

The currency has managed to establish significant strong buying demand areas

at the 98.34 level, after breaching the resistance areas at the 106 level.

If the currency declines again to the specified demand areas, 

it is expected to rise again to targets at the 106, 114, and 121 levels, as a final target.

However, if the demand areas are broken and a full candle closes below them,

specifically below the 90.73 level, the analysis will fail.

The currency may continue to decline in the medium term.