Litecoin’s (LTC) Trend Shifts Bullish — Price Could Reach $170 in February

Key Takeaways

• Litecoin (LTC) trades above the $105 horizontal support area.
• The LTC price is trading inside a long-term parallel channel.
• Is Litecoin’s correction over, leading to a positive February?

Litecoin struggled for most of 2024, only reaching its yearly high in December.

The tides shifted afterward, and 2025 has been bearish so far. Litecoin suffered a flash crash in February, briefly falling to a low of $104.1.

Nevertheless, Litecoin has staged an impressive recovery.  The price regained all of its losses in one week and moved above $110, bringing its year-to-date performance close to breaking even.

Bulls are optimistic since a breakout from the current pattern will confirm the correction is over and can trigger a significant upward movement.

Let’s look at the charts and see how likely this is.

Litecoin Bounces at Support

The Litecoin price broke out from a long-term resistance in November 2024, reaching its yearly high of $147.22 next month. The resistance trend line had existed for 518 days before the breakout.

The breakout coincided with a reclaim of the $105 horizontal area, which had provided resistance since the start of the year.

Even though LTC did not begin an upward movement after clearing resistance, it still trades above the $105 horizontal area, which now acts as support.

An interesting development is the very long lower wick (white icon) during last week’s liquidation event, which created a hammer candlestick with only a slightly negative close.

The movement is positive since Litecoin’s price showed resilience by regaining all its previous losses.

Despite the bullish price action, technical indicators give an inconclusive reading. The Relative Strength Index (RSI) and Moving Average Convergence (MACD) are above their bullish thresholds but falling.

While the RSI might have regained its footing above 50, the MACD is close to making a bearish cross.

The daily time frame nudges the Litecoin prediction bullish. The chart shows that LTC has fallen inside a descending parallel channel since the 2024 high.

These channels usually contain corrective movements, so an eventual breakout from it is the most likely scenario.

LTC trades in the channel’s upper portion, making an eventual breakout more likely.

An LTC price increase above the channel’s resistance at $125 will confirm the correction is over.

Finally, technical indicators are turning bullish. The RSI has increased above 50 and is close to breaking out from its resistance trend line (red) while the MACD has just made a bullish cross (black circle).

So, an eventual breakout from the channel is the most likely future outcome. Let’s look at the wave count and see where that can take the price.

Litecoin’s February Increase

The wave count decisively bullishly predicts Litecoin’s future. According to the count, LTC is in wave C of an A-B-C corrective structure (black) that started in June 2022.

If so, it is currently in the fifth and final sub-wave (white) of wave C. Giving waves A:C a 1:1.61 ratio leads to a high of $170.66, a 50% increase from the current price.

The parallel channel fits with the count since it contains sub-wave four. Breaking out from the channel will confirm that sub-wave five is underway.

While the wave count gives a positive short-term outlook, it does not bode well for Litecoin’s long-term prospects.

According to the count, Litecoin is correcting inside a long-term symmetrical triangle. The ongoing upward movement is part of wave D in this corrective structure.

if the count is accurate, LTC will continue consolidating for at least one more year before the triangle resolves.

Thus, the LTC price will likely fall after the predicted increase to $170, beginning its long-term wave E.

Litecoin to $170

The Litecoin price has retraced all of its Feb. 3 correction and aims for a breakout above its descending parallel channel.

A successful breakout could lead to an LTC high of $170, serving as the local top.