What's Going on With the Litecoin Price Movement? | Credit: Derek Fenech
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Key Takeaways
Litecoin (LTC) failed to break out from the $135 resistance area.
The LTC price has yet to break out from a seven-year triangle.
Can Litecoin finally conquer its long-standing resistances?
Litecoin (LTC) is once again struggling to push past the key $135 resistance level, leaving traders uncertain about its next direction.
The coin showed promise with a breakout earlier in July, but the rally quickly lost steam as momentum faded.
Now, with buying pressure weakening, LTC risks sliding lower before it can stage a stronger breakout attempt.
Litecoin’s Bearish Rejection
At the start of August, Litecoin broke out from a descending resistance trend line and attempted to clear the crucial $135 level.
That push, however, failed. Instead of a clean breakout, LTC printed a bearish candlestick with long upper wicks — a pattern that mirrors the failed rallies seen back in December 2024.
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For now, Litecoin is caught in a tight squeeze, trading between the $135 resistance and the former trend line, which has flipped into support.
This means LTC is effectively trapped between two major levels, and whichever side breaks first is likely to dictate the next big move.
Momentum indicators, however, remain neutral — offering no clear signal yet on whether bulls or bears are in control.
Litecoin Weekly Movement | Credit: Valdrin Tahiri/ TradingView
The Relative Strength Index (RSI) is barely below 50 while the Moving Average Convergence/Divergence (MACD) is positive.
While they are above their bullish thresholds, neither has any momentum behind it, casting doubt as to whether the Litecoin trend is bullish or bearish.
Can Litecoin Regain Footing?
While the price action creates uncertainty, the wave count does not.
The most likely count suggests that Litecoin completed a leading diagonal since its April lows, as evidenced by the ascending wedge.
Waves three and five were accompanied by a bearish divergence in the RSI and MACD (orange), confirming the top is in place.
Litecoin Daily Movement | Credit: Valdrin Tahiri/ TradingView
If that is the case, the price of Litecoin has started an A-B-C correction toward $99, a horizontal and Fibonacci support.
The long-term count suggests that LTC completed a nearly seven-year triangle pattern in April and has started a five-wave upward movement.
The entire upward movement and predicted correction are likely waves one and two in a five-wave increase.
Litecoin Weekly Movement | Credit: Valdrin Tahiri/ TradingView
Once Litecoin breaks out from its triangle, it will likely increase first toward $300 and then move to a new all-time high.
So, the short-term Litecoin prediction is bullish, but the long-term one suggests new highs are likely in 2025.
Correction Before Pump
In the short term, Litecoin’s technical analysis suggests caution, with potential downside toward $99.
However, the long-term trend remains bullish, confirmed by a long-term triangle breakout.
If the prediction plays out, Litecoin could reach $300 and possibly a new all-time high in 2025.
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.
