Litecoin Monthly Close Above Key Resistance Could | Crypto News
As Litecoin (LTC) tries to get away of a bullish sample, an analyst suggests that a month-to-month close above its key horizontal zone might propel the price to ranges not seen since the 2021 bull run.
Litecoin Attempting Key Breakout
Litecoin has seen a exceptional 63% rally from April’s lows over the previous month and a half, surging above essential ranges in the previous few weeks. Just this month, the cryptocurrency has recovered the $80 and $90 help ranges and tried to reclaim the $100 barrier again.
Fueled by the market restoration and Bitcoin’s rally previous the $100,000 mark, LTC hit a two-month high of $107 practically two weeks in the past. Since then, the altcoin has struggled to maintain the $100 mark.
However, analyst Carl Runefelt from The Moon Show just lately recommended that Litecoin “is about to pump.” The analyst highlighted a bullish sample on LTC’s chart, which might see the cryptocurrency rise 20% toward the $117.5 mark for the first time since early March.
According to Runefelt’s chart, the cryptocurrency fashioned a bullish flag sample after hitting its two-month high. Since then, LTC has hovered between the higher and decrease boundary, bouncing once before from the help line toward the sample’s resistance line.
Earlier this week, Litecoin bounced again from the help after touching the $92 degree, which led the analyst to counsel it has “every chance to break out of this bullish flag to the upside.”
On Friday, the altcoin jumped 11% from the sample lows, briefly breaking out and hitting the $102 mark before retracing to the $96 mark. The cryptocurrency now hovers between the $98-$99 ranges, just 1% below the sample’s higher boundary.
A surge above this degree to affirm the breakout might set the stage for the sample’s $117.5 goal and mark a important push toward a key horizontal degree.
LTC Preparing For Rally To $150?
Analyst Rekt Capital identified that Litecoin wants a Monthly Close above its key resistance degree to goal the $150 mark and above. He highlighted the $110-$125 horizontal degree, explaining that LTC “spends most of its time below it and very little time comparatively beyond it.”
The analyst famous that since 2019, the rejection from this resistance degree has been getting “progressively weaker over time to the point where only a couple of months ago, LTC tried to retest this region as support” during the early 2025 rally.
Despite failing to reclaim this degree, this might counsel that the resistance is “struggling to hold price down,” which is why the next breakout above this space might signal that “the chances of a successful retest are high.”
Moreover, the weakening of the resistance may very well be partly attributed to its multi-year Marco Higher Low, as Litecoin has bounced from the ascending trendline toward this resistance each time it has been retested.
Based on this, the analyst considers that a Monthly Close above the important thing horizontal degree, adopted by a retest to affirm the breakout, would give the required energy for a 30% rally above the $150 mark for the first time since 2021.
As of this writing, Litecoin trades at $98.60, a 2.7% decline in the weekly timeframe.
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