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With a probable bull flag, the price of Litecoin is expected to rise to $300 and beyond.
Bulls in Litecoin are attempting to reclaim control, with their sights set on the six-month high.
On the 12H chart, LTC price has spotted a bull flag and is waiting for confirmation.
While above 50.00, the RSI halts its drop, reinforcing the buying attitude.
As LTC bulls attempt to reclaim control this Saturday, the corrective slide in the Litecoin price looks to have lost momentum from six-month highs of $298.
LTC is presently trading at $251, practically steady on the day, after trying a modest comeback from three-day lows of $244 on Friday.
Despite the recent retreat from the multi-month high, Litecoin’s underlying bullish tone remains unaffected by the positive fundamentals.
According to statistics from crypto intelligence site IntoTheBlock, 88 percent of Litecoin wallet addresses are now lucrative, according to FXStreet’s Crypto Editor Ekta Mourya.
A prominent forex trader and expert, Peter Brandt, added credence to the bullish potential by predicting a retest of the 2021 high at 395.
