Litecoin (LTC) Price Moves Above Resistance: Key Levels to Watch Litecoin has just broken through a key price level that has been holding it back for a while. After the breakout, LTC price has returned down to test the same level and has held strong. Prominent analyst Anup Dhungana noted this on X (formerly Twitter): “Looks like#Litecoinbreakout and retest is done!” This could signal the start of a new uptrend for Litecoin. LTC Chart Analysis: Breakout from a Multi-Year Pattern Observed Looking at Litecoin’s chart, we can see that it has broken through a long-term pattern – a descending triangle that has been around for years. This triangle has lower highs at the top and a support line holding the lower lows at the bottom. When prices break through these patterns, it often leads to strong moves. The recent action shows that Litecoin price is moving decisively above the resistance line, marking a potential trend reversal. After the breakout, the price tested the previous resistance area, which has now flipped into support. This retest, which appears on the chart as a green shaded area, is often seen as confirmation of the validity of the breakout. Support and resistance levels to watch The chart shows the main support and resistance areas for Litecoin.Historically, the lower boundary of the triangle has acted as a support level during market corrections. With the breakout, the upper boundary, which previously acted as resistance, has turned into a critical support area. On the resistance side, Litecoin price could face challenges at its all-time highs above the triangle. Analysts expect the cryptocurrency to target levels between $150 and $200, provided the breakout maintains its momentum and the support areas hold. Image source: X/AnupDhungana Although the LTC chart does not explicitly include volume data, a breakout of this type often coincides with an increase in trading volume. Momentum indicators such as the Relative Strength Index (RSI) or MACD (not visible on the chart) can confirm the bullish outlook for Litecoin price. Dhungana’s tweet confirms the confidence in this momentum, suggesting a successful breakout and retest. Litecoin Price Predictions A breakout of this multi-year pattern could signal a reversal in Litecoin’s price trajectory. While a bullish continuation seems likely, traders should remain cautious about the potential for a pullback if the newly established support area fails to hold. The next resistance levels are coming up soon, so what Litecoin does in the next few weeks will tell us a lot about where it is headed in the long term.This breakout has caught everyone's attention, and traders are watching closely to see what happens next. $LTC
