- A Litecoin price breakout from a falling wedge could signal upward momentum.
- RSI shows neutral market sentiment, indicating potential for growth.
- Breaking $75 could lead to gains, with $90 as a target.
Litecoin (LTC) price has recently been trading above $70, showing signs of a slight bullish trend. After months of consolidation, LTC has broken free from a falling wedge pattern, which had been ongoing since December. This breakout could signal the end of the cryptocurrency’s downtrend.
Falling wedge patterns typically indicate bullish reversals, meaning Litecoin may be poised for upward momentum. Analysts are optimistic about the potential for a price rally, as the cryptocurrency has reached a critical point. If the bullish trend continues, LTC could experience significant gains in the coming weeks.
Long-Term Bitcoin Holders Increase Supply by 297,000
The Long-Term Holders (LTH) supply of Bitcoin rose 297,000 BTC over nine days. The LTH supply has grown by 297,000 BTC throughout recent periods that witnessed major price oscillations in Bitcoin markets. The LTH supply currently holds 14,031,000 BTC but has increased from its previous measurement of 14,328,000 BTC.
The rise demonstrates that long-term investors currently hold a growing number of BTC in their portfolios. The upward trend of Bitcoin values persists, but price instability continues because the market waits for additional developments.
Crypto Analyst Eyes $100 Level for Litecoin Price
Crypto analyst observed an essential change in Litecoin’s market dynamics because the digital asset escaped from the months-long declining trend that shaped a falling wedge pattern. The new technical development represents the conclusion of the previous bearish trend.
The next decisive factor for the market will be volume because it determines how powerful the current breakout becomes. A rising level of momentum may lead to an aggressive price increase for altcoin. Recent Litecoin price analysis indicates recovery signs, which could boost its value above $100 when the market develops additional buying demand.
The likelihood of Litecoin receiving approval for an exchange-traded fund (ETF) in 2025 has seen a notable increase. According to data on Polymarket, the probability stands at 71%, marking a 21% rise in optimism. This shift in sentiment reflects growing market expectations for Litecoin’s future integration into mainstream financial products.
Litecoin Price Struggles: Can LTC Break $75?
As of the reporting time, the LTC price has seen a modest increase of 0.11%, currently trading at $74.97. In the past 24 hours, the altcoin experienced price fluctuations, ranging between $73.27 and $75.05, but it faces resistance near the $80 mark. Several support levels are being monitored, with the next key level located at $70.
The Relative Strength Index (RSI) stands at 39, suggesting that Litecoin is neither overbought nor oversold at this point. This indicates a neutral market sentiment. The MACD shows a slight negative momentum with a reading of -0.06, signaling the possibility of further consolidation before a breakout.
The immediate resistance levels are $75.05 and $80. If Litecoin price prediction manages to break above these levels, the next target could be around $90. On the downside, if the cryptocurrency fails to hold the $70 support, the next target could be $60.
