LTC’s surge shows no signs of slowing | Credit: Hameem Sarwar
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Key Takeaways
Litecoin broke out above a descending triangle, backed by a bullish setup and rising on-chain signals.
DMI and ADX highlight sustained trend strength, supporting the bullish case for a push toward $147.
However, if bullish pressure fades, a retracement to the $80 level could materialize before any rebound.
Litecoin (LTC) has re-entered the spotlight after soaring 27% and reclaiming $100. Previously, the $100 market acted as resistance, preventing Litecoin’s price from trading higher.
This time around, the level is no longer acting as a ceiling — it has flipped into support. With that shift, LTC appears poised to break past previous targets that some analysts may have considered ambitious weeks ago.
Litecoin Breaks Out
The Litecoin’s recent rally might not surprise those who follow CCN analysis. On June 26, we predicted that LTC was in line to break the psychological level after it completed the five-wave correction.
At press time, the altcoin had hit $108.21, and the 4-hour chart showed that it had broken above a symmetrical triangle. This breakout was accompanied by a bullish Directional Movement Index (DMI) position.
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As shown below, the +DMI (red) has surged to 32.81, while the –DMI (orange) lags behind at 6.61. This gap suggests that Litecoin’s bullish momentum remains intact, making a continued uptrend more likely than a near-term correction.
The Average Directional Index (ADX), which currently reads 34.83, supports this outlook. Since values above 25 indicate a strong trend, this reinforces the thesis that Litecoin’s price rally is both sustained and gaining strength.
From an on-chain perspective, Glassnode data highlights a key development. As of this writing, the Litecoin Pi Cycle Top has climbed to $175.6.
The Pi Cycle Top indicator combines two moving averages, namely the 111-day simple moving average (SMA) and the 350-day SMA.
Historically, when the shorter-term 111SMA converges with or surpasses the longer-term multiple, it indicates that the asset may be entering an overheated phase, coinciding with macro cycle tops.
While the LTC price hasn’t reached that crossover point yet, the rising metric suggests that it still has room to grow before hitting a potential peak.
To buttress this bullish outlook, CCN observed that the green line of the Supertrend is positioned below Litecoin’s price. This happened after the altcoin broke above the upper trendline of the descending triangle.
Due to this, LTC’s price is likely to break the resistance at $128.70. The Money Flow Index (MFI) has climbed to 84.69, indicating notable accumulation and less selling pressure.
Should this trend remain the same, Litecoin’s price might hit $147.52 in the short term. But in the long run, the price might close in on another 100% hike from the current price and hit $201.85.
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.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
