Here's Why Litecoin Could Go to $100 | Credit: Hameem Sarwar
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Key Takeaways
Litecoin (LTC) trades inside a long-term symmetrical triangle.
The LTC price is attempting to break out from a short-term channel.
Litecoin’s charts suggest the bottom is in, and a significant rally awaits.
The Litecoin price bounced on April 7, creating a higher low on June 22. The long- and short-term Litecoin charts are bullish, signaling the start of a significant rally.
Let’s examine the charts to determine when the move will occur and what the target for this breakout is.
Litecoin’s Technical Analysis
Litecoin’s technical analysis shows that the LTC price completed a five-wave upward movement (green) and a W-X-Y correction (red).
The correction was contained inside a descending parallel channel, from which Litecoin attempts to break out.
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Technical indicators confirm this bullish Litecoin analysis. The Relative Strength Index (RSI) broke out from a resistance trend line, almost above 50.
The Moving Average Convergence/Divergence (MACD) made a bullish cross (black circle) and is almost positive.
Therefore, the Litecoin chart gives a bullish price forecast, signaling an imminent breakout.
Litecoin’s Bullish Bounce
The short-term hourly chart confirms that the trend reversal has started.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
