Litecoin (LTC) is breaking out from a diagonal resistance trend line.
The LTC price has nearly crossed above the $130 horizontal resistance.
Will Litecoin begin a parabolic upward movement toward $275?
Litecoin is showing strong signs of life after months of sideways trading.
With price action finally breaking above a long-standing diagonal resistance, bullish momentum is building fast.
The key question now is whether LTC can sustain this surge and begin a parabolic rally.
Litecoin Price Breakout
The weekly time frame indicates that the Litecoin price is breaking out from a diagonal resistance trend line that has been in place since December 2024.
Breakout from such long-term structures often leads to significant upward movements, and Litecoin is not shaping up to be an exception.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
After five unsuccessful breakout attempts (indicated by red icons), the Litecoin price is creating a bullish engulfing candlestick today, finally confirming the breakout.
In addition to the diagonal resistance, the LTC price attempts to move above the $131 horizontal resistance area, which has been in place for nearly a year.
A breakout above these two levels will likely drive the price much higher due to the lack of overhead resistance.
In fact, there is now more resistance until $275, which is a 110% increase from the current price.
Momentum indicators support the bullish Litecoin prediction. The Relative Strength Index (RSI) is above 50, while the Moving Average Convergence/Divergence (MACD) made a bullish cross.
If the Litecoin price closes above $130, it will confirm its bullish breakout, increasing parabolically toward $275.
Why is Litecoin Going Up?
Litecoin’s long-term price count is even more bullish than its short-term technical analysis.
According to the count, the LTC price has broken out from a nearly six-year-long symmetrical triangle after completing an A-B-C-D-E structure (red).
If the count is accurate, the Litecoin price is currently in the third wave of a five-wave upward movement.
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.
