LTC Technical Analysis: 4 MAY 2025
LTC is trading inside a rising wedge pattern. Source: TradingView
General View
Litecoin has advanced steadily over the past sessions, trading within a well-defined rising wedge pattern. Price action now approaches a critical juncture as LTC edges closer to testing the 61.8% Fibonacci support level of its recent rally. This level sits near the lower boundary of the wedge, making it a key area for bulls to defend. A clean bounce here could keep the bullish structure intact, but any breakdown below this zone would raise caution for a deeper retracement.
On The Upside
For LTC to regain upward momentum, the price must respect and push back higher from the 61.8% Fibonacci level. Holding strongly above $85.50 keeps the bullish hopes towards $88 to $90 levels on cards. Momentum from buyers needs to accelerate quickly for this bullish scenario to unfold, otherwise, weakness could emerge.
On The Downside
LTC currently sits precariously above the lower wedge support and just above the 61.8% Fibonacci retracement. Bulls need to hold these levels to avoid any selling events. Weakness below $85.50 would open the downside towards $82 and $80 next.
61.8% Fibonacci level will be an important support for the session. Source: TradingView
