TLDR
- Litecoin price has trended in an ascending channel since 2022, forming higher lows that suggest continued buyer accumulation.
- Breakout above $115–$120 could confirm bullish momentum, opening the path toward resistance levels at $140 and $160.
- Long-term chart projects a potential rally to $240–$280 if Litecoin sustains control above the upper boundary of its channel.
- Structural support sits near $70–$75, with a breakdown risking declines toward $50 if buyers fail to defend the channel.
Litecoin price has been trading within a structured ascending channel since early 2022. After sharp declines from its 2021 peak, the asset entered a period of consolidation marked by steadily rising support. The channel has created a framework where higher lows continue to form, suggesting sustained buying activity. Analysts are now watching whether momentum can extend toward the upper boundary of this formation.
Technical Structure and Key Levels
Litecoin price action has respected the broad channel for more than two years. The mid-range resistance between $100 and $110 has repeatedly capped attempts to move higher. Despite this, buyers have consistently defended the lower boundaries, keeping the structure intact.
LTC/USD 1W Chart | Source: X
A recent breakout from a smaller descending wedge below mid-range resistance points to renewed upward pressure. If momentum holds, the next target sits between $140 and $160 at the channel’s upper edge. A decisive move above this range could open a path toward $240 to $280, a level not reached since mid-2021.
Daily Chart Hints at Breakout Setup
Furthermore, The daily chart shows Litecoin testing a descending resistance trendline that has limited rallies since early 2023. The pattern is tightening as price finds support along an ascending green trendline, forming a triangle that typically precedes a breakout.
LTC/USD 1D Chart | Source: X
Volume profile data shows heavy activity around $100 to $110, underscoring this zone as a key decision point. If buyers manage to push beyond $120 to $125, Litecoin price could quickly extend toward $140 and potentially $145. Both areas mark past supply zones where sellers have taken control before.
Resistance Levels Shape Medium-Term Outlook
In addition, Resistance beyond $145 appears at $180 and later $220, where historical trading volumes cluster. These areas could encourage profit-taking, slowing further gains in the short term. Traders will likely treat them as checkpoints during any sustained rally.
A breakout above $145 would signal stronger market conviction. This would strengthen the case for a medium-term trend reversal, potentially setting the stage for the larger move toward $240.
Downside Risk Remains in Focus
At the same time, If the breakout fails, Litecoin could revisit support at $95 to $100 along the green trendline. A breakdown below that zone risks exposing the market to deeper losses near $80 or even $70. The broader ascending channel, however, keeps stronger structural support intact near $70 to $75.
A breach under $70 would invalidate the bullish setup entirely, raising the likelihood of a deeper correction toward $50. Until then, the pattern of higher lows favors cautious optimism.
Traders Monitor $115 to $120 for Confirmation
Even so, Market participants continue to watch the $115 to $120 zone for confirmation of renewed strength. Sustained accumulation and increasing volume would be necessary to support a lasting breakout.
If those conditions align, Litecoin price could revisit levels unseen in more than three years. The balance between structural support and looming resistance will determine whether the broader bullish case holds.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
