LTC Technical Analysis: 29 APR 2025
LTC is trading inside a potential rising wedge pattern. Source: TradingView
General View
LTC has been consolidating inside a thin range for the last few days, as the price looks to define its next trending direction. Price has been holding well above the supportive zone as EMA bands now start to trend upward. However, a potential cautious approach is advised as a potential rising wedge is spotted as well. Litecoin could likely get volatile in the next few sessions as bulls and bears go head to head for the main trend.
On The Upside
LTC is maintaining its short-term strength above EMA-50, which can open the upside towards $88.20 next followed by $91.10 levels. This is an important resistance zone for LTC, as this level also coincides with the wedge trendline resistance. Unless price finds acceptance above the wedge resistance, any further upside would remain unsustainable.
On The Downside
Multiple intra-day supports are functioning for LTC currently. The primary support is at the $94.40 level, followed by $92.35. This is where the sessions EMA-50 is going to be present. This would be the first important level for the bulls, followed by $80. Both these must hold to keep LTC in a bullish grip.
EMA-50 remains very important for LTC. Source: TradingView
