Litecoin rose to $120 with a spike in transaction volume, indicating increased demand from investors.
The market cap hit $9 billion as volume jumped over 120%, showing momentum in the LTC market.
Litecoin maintained support above $115, suggesting that buyers are pushing prices higher with strong anticipation in the coin.
Litecoin has broken out of a two-year value pattern, sparking momentum for further gains. The breakout occurred above resistance, signaling a shift in price direction. Crypto analyst Alex Clay highlighted this movement and identified key targets based on Fibonacci retracement levels.
Source: Alex Clay
The breakout started above the $115 to $120 region, which had previously been a stubborn resistance. Now that this area has flipped into a strong support zone, Litecoin’s price appears positioned for more upside. Alex Clay noted that the breakout could push LTC to hit important price levels at $193, $258, and $319.
Fibonacci Zones Signal Next Price Levels
According to Alex Clay, Litecoin’s first major target is set at $193. This level aligns with the 0.382–0.618 Fibonacci zone, which often acts as the first milestone during an upward move. If Litecoin maintains its momentum and holds above this zone, it could head toward the next level at $258.
The second target sits within the 0.786–0.618 Fibonacci range, making it a zone to watch. Once Litecoin reaches this range, buyers will need to push harder to keep the rally going. Beyond that, Clay identified $319 as the final target, which aligns with the 1–0.786 Fibonacci level.
Investor Sentiment Grows as Support Strengthens
Litecoin’s ability to move above $115–$120 has given investors a reason to turn bullish. This support level now acts as a foundation for the next price moves. At the same time, growing trading volumes show increased buying interest as traders anticipate higher targets.
Alex Clay pointed out that the symmetrical triangle breakout could result in sustained upward momentum if Litecoin holds these critical levels. Many traders now see the Fibonacci targets as achievable over the mid-term.
With its price steadily gaining strength, all eyes are on whether it can maintain this upward path. Investors and traders will be watching closely to see if LTC can reach its next major targets at $193, $258, and $319.
Litecoin Price Climbs to $120.24 as Market Cap Hits $9.05 Billion
Litecoin moved up 2.43% in the past 24 hours to trade at $120.24. This comes shortly after LTC broke out of a two-year symmetrical triangle, as previously highlighted. The bullish momentum has pushed the market cap to $9.05 billion, while the 24-hour trading volume surged to $2.19 billion, reflecting a 121.57% increase.
Source: CoinmarketCap
The circulating supply remains at 75.31 million LTC, with a maximum supply capped at 84 million LTC. The coin has also held above the $115–$120 key support zone, which aligns with the breakout levels from previous analysis. Litecoin’s price action, which touched highs near $130, confirms its upward potential as bulls aim for the Fibonacci targets at $193 and beyond.
