Litecoin (LTC) Price Looking At 97% Gains As Analysts Monitor Key Levels.
NOIDA (CoinChapter.com)—The price of Litecoin (LTC) is on the verge of a pivotal moment, with technical indicators suggesting a potential breakout from a prolonged accumulation phase. The chart shared by Trade Pro highlights multiple rejections at the $68-$70 resistance level.
The consistent failure to break higher underscores the importance of this range, which has acted as a major ceiling for Litecoin. However, accumulation periods like this often precede significant moves, and LTC is testing this resistance again.
Analysts remain bullish on Litecoin price’s future. Source: X
A breakthrough above $70 on a daily close would likely signal the end of this accumulation phase, potentially opening the door for a stronger bullish run toward the next key resistance levels near $75-$77. This area is an untapped target and represents a structural shift where bearish momentum would flip to bullish.
Trade Pro’s analysis aligns with this, noting that the next move could increase Litecoin if the asset breaks out of its current accumulation. Combining this technical setup and market sentiment could propel LTC to new highs if buyers gain control.
However, a failure to break resistance risks Litecoin remaining stuck in its range or facing downside pressure. LTC’s price action in the coming days will be critical in determining its medium-term trend. Moreover, the token, often called ‘silver to Bitcoin’s gold,‘ has formed a bullish technical pattern.
LTC Price Forms Bullish Setups
The LTC USD pair has formed a bullish technical setup called the ‘falling wedge.‘
LTCUSD pair formed a bullish pair with a 97% upside target. Source: Tradingview
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards. Increased trading volume during the breakout confirms the strength of the reversal, reinforcing market confidence and the likelihood of success.
According to technical analysis rules, the LTC USD conversion rate might rally over 97% from its current level to reach the pattern’s projected target of around $134.
Litecoin Forms Another Bullish Pattern
Moreover, zooming in shows that the LTC USD pair has formed another bullish setup, called the ‘ascending triangle.‘
LTCUSD pair formed a bullish pair with a 20% upside target.
The pattern occurs when a horizontal resistance line connects swing highs while an ascending trendline links higher swing lows. This setup suggests increasing buying pressure as the price approaches the resistance level.
The ascending triangle formation indicates that buyers are gaining strength, and a successful breakout could lead to further upward momentum for the XRP USD pair. This technical setup provides a clear framework for assessing potential price movements in the near term.
In technical analysis, the pattern’s price target is calculated by measuring its height and projecting it from the breakout point. This calculation suggests a price target near $82 for the LTC coin price, a spike of 20.6% from the current level.
The Litecoin price is currently testing the pattern’s upper trendline resistance.
LTC Price Bulls Trying To Hold Above EMA Resistance
LTC price action has been on a bull run, painting higher highs before the bears moved in as the LTC USD pair moved above the 100-day EMA (blue) resistance. As a result, LTC price dropped over 3% to reach a daily low around $67.4.
If the token starts rallying again, LTC price would likely reach the 200-day EMA (green) resistance near $71.5. Breaking and holding above the immediate resistance might help the token rise to the resistance near $76.7.
LTCUSD daily price chart with RSI.
Yet, if the LTC price fails to move above the ascending triangle’s resistance, the token could drop to the 20-day EMA (red) and 50-day EMA (purple) support confluence near $64. Failure of the immediate support might push the LTC USD pair to the support near $61.
The RSI for LTC remained neutral, with a score of 58.6 at the time of writing.
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