- Litecoin (LTC) is closing a bearish trend and consolidating near the crucial $100 resistance, signaling a strong potential rally in the coming week.
- Recent price action shows LTC up over 31% in the last month, with key targets at $105, $115, and $129, supported by healthy trading volume and positive RSI momentum.
- Critical support levels at $85 and stop-loss points at $97 and $80 help manage risk as LTC eyes a breakout that could spark a broader altcoin rally.
LTC is now closing a bearish trend and trying to move toward its resistance after a period of consolidation. Price is ranging tightly on different timeframes, with no clear breakout yet. LTC is very likely to hold a rally in the upcoming week. Holding above the $100 resistance should trigger that opportunity
At the time of writing, LTC is trading at $98.09 with a 24-hour trading volume of $503.77M and a market cap of $7.44B. The LTC price is hit by market volatility on the one-day and weekly charts, but over the last month, its price is significantly up by 31.88% and showing positive signs for the next breakout.
Source: CoinMarketCap
Litecoin’s Bullish Wave Expected With Target at $147
A crypto analyst, Andrew Griffiths, highlighted that Litecoin (LTC) is showing a strong bullish signal on its weekly chart against USDT as price action moves close to a long-established trend channel. A move through the area would ignite another bullish wave with target levels of $105 (T1), $115 (T2), $129 (T3), and potentially $147 (T4).
These are levels of previous swing tops and future price projection lines where the momentum will potentially ramp higher on increasing buying volume. In support of such a setup is the fact that the weekly RSI is back at the midline, with plenty of room for higher prices before becoming oversold.
Source: X
Effective risk management remains crucial as bulls-eye a potential breakout. Recommended stop-loss targets are at $97 (SL1), $80 (SL2), and $63 (SL3), all at significant support points. A breakout is not yet guaranteed, but the structure shows the strength of the momentum. With increasing traction in Litecoin and overall positive sentiment, both short-term and long-term holders are keeping an eye on price action, awaiting confirmation of the sustained rally.
Moreover, another crypto analyst, Elite Crypto, suggested that Litecoin (LTC) has produced an impressive performance, jumping 72% in six days, one of its strongest rallies of the last few months. The increase was preceded by a convincing bounce from the $62 support point, as viewed in the weekly chart, as LTC regained the all-important $85 area.
This level was previously strong resistance but has become sound support. The price is now heading towards the subsequent notable resistance at $106 with positive momentum surging, suggesting scope for further gains.
Source: X
If the LTC can break above the $85 support level, it can form a firm base for the continuation of the push towards previous highs. Market structure continues to be positive, and increasing volume suggests increasing investor confidence. Under positive conditions, Litecoin might be at the center of the upcoming altcoin rally. A maintained breakout above significant levels can pave the way towards the $106–$110 level in the near future.
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