Litecoin on the Verge of a Breakout: Are You Ready for a Rally?
Hello, Traders!
After reaching a local high last month, Litecoin entered a correction phase but is now showing signs of recovery.
A few days ago, LTC came close to retesting its previous local high before undergoing a minor pullback.
Currently, it appears that LTC has found strong support in the $95-$100 range, forming a local bottom. I don’t expect the price to dip below this area.
On the upside, there’s a clear resistance zone in the $135-$145 range, which has been tested twice but not yet broken.
The price action suggests that Litecoin is building momentum for a breakout above this level.
If this breakout occurs, it could serve as a catalyst for a parabolic rally.
In such a scenario, the next target will likely be the $200 price level, which aligns with the psychological round number.
Beyond $200, further upside targets could emerge depending on market conditions, particularly if broader market sentiment remains bullish.
Traders should watch for confirmation of the breakout above $145, accompanied by strong volume, as this will increase the likelihood of sustained upward movement
Please don’t forget to boost this idea and leave your comments below.
After reaching a local high last month, Litecoin entered a correction phase but is now showing signs of recovery.
A few days ago, LTC came close to retesting its previous local high before undergoing a minor pullback.
Currently, it appears that LTC has found strong support in the $95-$100 range, forming a local bottom. I don’t expect the price to dip below this area.
On the upside, there’s a clear resistance zone in the $135-$145 range, which has been tested twice but not yet broken.
The price action suggests that Litecoin is building momentum for a breakout above this level.
If this breakout occurs, it could serve as a catalyst for a parabolic rally.
In such a scenario, the next target will likely be the $200 price level, which aligns with the psychological round number.
Beyond $200, further upside targets could emerge depending on market conditions, particularly if broader market sentiment remains bullish.
Traders should watch for confirmation of the breakout above $145, accompanied by strong volume, as this will increase the likelihood of sustained upward movement
Please don’t forget to boost this idea and leave your comments below.
Note
Litecoin is slowly recovering after the flash crash and currently is trading above support area which is good for continuation of the uptrend.
The good thing is that on the daily chart all candles closed above the $100 mark.
There are rumors swirling around on a possible LTC ETF which may spark a price spike in the near future.
Note
Litecoin price increased by over 20% in the last couple of days, showing strong bullish momentum. This surge comes amid growing market interest and positive sentiment surrounding LTC.
Currently, LTC is trading around the $130 area after nearly reaching its local top at the $140 level.
The asset has shown resilience, maintaining its upward trend despite broader market fluctuations.
Considering that BTC.D remains at high levels, a potential shift in capital flow from BTC to altcoins could trigger a parabolic rise in LTC.
Historically, Litecoin has performed exceptionally well in such scenarios, and if BTC.D starts to decline, LTC could experience accelerated growth.
A confirmed breakout above the $140 resistance level would likely signal further upside potential, with the next key target set at the $200 price level.
Increased volume and strong buying pressure would further support this move, making it a critical point to watch for traders and investors.
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✅ FYBIT exchange. I recommend. No KYC, available in all countries. fybit.com/Account/Register/OMNP5
🔥 My Twitter - x.com/Real_CryptoRoy
▶️ Telegram - t.me/Real_CryptoRoy
🔥 My Twitter - x.com/Real_CryptoRoy
▶️ Telegram - t.me/Real_CryptoRoy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.