With LTC forming a bullish cross on Stoch and RSI, Litecoin is experiencing a strong pump momentum.

LTC has surged 6.69% in the past 24 hours.
With the bullish crossover, Litecoin appears to be in a position of recovery on its price chart.
In the past three days, Litecoin [LTC] has experienced a continuous bullish trend, indicating a potential recovery. After falling to a low of $96, Litecoin pumped 9.38%. At the time of writing, Litecoin's trading price is $105, pumping 6.69% in the past 24 hours.
Before the pump, LTC was in a downtrend, with a 3.4% decrease on the weekly chart and a 13.97% decrease on the monthly chart.
The recent surge has raised doubts about the future trend of altcoins. Will LTC continue to recover, or is it just a market adjustment driven by New Year speculation?
Is LTC ready for a sustained recovery?
According to the analysis of AMBCrypto, Litecoin is experiencing a strong pump momentum amidst increasing buying pressure.
These market conditions may further pump Litecoin on its price chart.
First of all, Litecoin has experienced a bullish crossover of the Stochastic indicator in the last 24 hours. This indicates that the market momentum is turning to the upside, which could lead to a price pump. This crossover is a buying opportunity for many traders.
Similarly, Litecoin's relative strength index (RSI) also shows a bullish crossover, further confirming an increase in buying activity. With increased buying pressure, demand may push prices higher.
Looking further, this observed buying pressure is largely driven by whales. As a result, large transactions have surged by 31.3% over the past day. As the whales enter the market, they seem bullish and anticipating further pumping.
In addition, the increasing demand for long positions further proves this bullish sentiment. According to Coinglass, the longs dominate the market, accounting for 53% of the total. As longs dominate, it indicates that the majority of traders expect the price of Litecoin to pump.
Finally, Litecoin's MVRV ratio had previously fallen to an extremely undervalued area, and now indicates a possible upward reversal.