LTC price consolidates but falling wedge pattern hints at bullish reversal ahead | Credit: Hameem Sarwar
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Key Takeaways
LTC has been range-bound between $102 and $119 but is now rising from the lower channel support.
Positive AO and rising network activity (375,000 active addresses) indicate strengthening buying pressure.
If momentum holds, LTC could target $120, and potentially $146, with possible invalidation also revealed.
Litecoin’s (LTC) price looks ready to climb again after weeks of stagnation. This month, the altcoin’s price remained relatively stable, fluctuating between $102.36 and $119.23.
At the time of this press release, LTC trades at $105.44. Despite recent consolidation, the coin appears poised to exit its quiet mood and break out higher.
Litecoin Resists Downturn
On the 4-hour chart, Litecoin’s price remains within a descending channel. However, the altcoin has bounced off the lower support line, suggesting that sellers may be losing strength.
This rebound indicates that buyers are stepping in to defend key levels, suggesting the possibility of a short-term recovery.
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If momentum builds from here, the first resistance to watch sits at $112.06, near the channel’s midline. A successful breakout above this level could open the door for a push toward $120.68.
On the downside, immediate support remains at $101.30, which recently cushioned the price. A breakdown below this zone would put the next key support at $59.80, raising the risk of Litecoin sliding deeper into bearish territory.
To gauge whether Litecoin’s price is preparing for a breakout or a breakdown, CCN turned to the Awesome Oscillator (AO). At the time of this press release, the AO is in the positive region, indicating that bullish momentum remains in effect.
This suggests that buyers currently hold the upper hand, increasing the likelihood that Litecoin’s price could test higher resistance levels if momentum holds.
From an on-chain perspective, Litecoin’s network activity is heating up. Over the last 24 hours, the number of active addresses has surged to 375,000, marking one of the highest levels in recent months.
This spike indicates that more users are engaging in transactions on the network, whether through payments, transfers, or trading activities.
For LTC’s price, the increase suggests that market participation is expanding, just as the coin attempts to rebound from its support level.
If this trend continues, it could amplify buying pressure, making it easier for Litecoin to sustain rallies and challenge key resistance levels.
LTC Price Prediction: Higher Run
On the daily chart, Litecoin’s price has carved out a falling wedge pattern and recently bounced off its lower trendline. This is viewed as a bullish reversal setup, indicating the potential for a breakout if demand strengthens.
If buying pressure accelerates, LTC could push above the key resistance at $109.84.
A breakout there would likely allow the altcoin to climb toward $126.16. In a highly bullish scenario, momentum could even carry Litecoin higher, with a potential run to $146.95.
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.
