Date: Thu, Dec 05, 2024, 08:56 AM GMT
The cryptocurrency market continues to demonstrate bullish momentum as Bitcoin (BTC) achieves a historic milestone, crossing the $100K price mark. Amid this significant development, major altcoins are riding the wave, delivering impressive performances.
Two standout tokens, Litecoin (LTC) and Aptos (APT), have shown remarkable monthly gains of 94% and 70%, respectively. However, both tokens are now approaching crucial resistance levels, raising questions about their next moves.
Litecoin (LTC):
Litecoin has surged by nearly 94% over the last 30 days, benefitting from strong market sentiment and altcoin-focused buying. It is currently trading within a key resistance zone of $128 to $146, a region that has previously served as a significant hurdle for LTC.
A breakout above this resistance zone could set the stage for a rally toward its next resistance level of $296 mark, representing a potential 100% upside from current levels.
However, traders should note that the RSI (Relative Strength Index) is at 82, signaling overbought conditions. This could lead to a short-term pullback if buying momentum weakens.
Aptos (APT):
Aptos has impressed with a 70% rally over the past month, driven by growing adoption and optimism around its ecosystem. The token is currently trading just below its resistance zone of $14 to $14.42, a critical level for APT to overcome to unlock further upside.
If APT manages to break above this range, it could target its next resistance levels of $19.32-$20.43, which aligns with a projected 41% upside. The RSI sitting at 66, APT still has room to grow before hitting overbought territory, making a breakout more likely in the short term.
What To Expect Ahead?
Both LTC and APT are positioned at pivotal resistance levels that could determine their near-term trajectories. The recent decline in Bitcoin’s dominance could further fuel altcoin performance, providing an opportunity for LTC and APT to shine. However, rejection at these resistance zones could lead to short-term corrections, offering potential re-entry points for traders.
A successful breakout for LTC above $146 or for APT above $14.42 would likely attract further buying interest, driving prices higher in the coming weeks. Traders should monitor volume and macro market conditions closely to gauge the likelihood of these breakouts.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.