- Litecoin forms a symmetrical triangle, reflecting years of tightening price action and accumulation.
- Momentum indicators remain neutral, showing a pause before a potential breakout or breakdown.
- LTC’s breakout projection suggests a $636 upside target, indicating strong potential for a high-timeframe expansion.
Litecoin (LTC) is climbing steadily as renewed bullish momentum strengthens across the broader crypto market, pushing the token into a positive price trajectory. The asset has surged nearly 10.56% in the past 24 hours, extending the weekly rally that now totals around 5.89%.
At the moment, LTC is valued at $105.45, supported by a rising 24-hour trading volume that has reached $1.34 billion, marking a 14.4% increase from the previous day. Its market capitalization stands at $8.06 billion, reflecting renewed investor interest and growing demand.
Source: CoinMarketCap
Also Read: Litecoin (LTC) Faces Volatility as Price Tests Key Support and Eyes $140
Litecoin Shows Consolidation Before Any Big Move
The LTC chart on the weekly timeframe shows the price fluctuating between the Bollinger Bands, and the middle band, which is at $108, being the point of pivot. Litecoin tested the upper part of the Bollinger Bands at $128, and now it is stabilizing in the middle zone. The lower band at $88 is still the level to watch for support.
Source: TradingView
The momentum indicators show a blended picture, as the RSI is seen close to the middle level of 50, indicating neither strength nor weakness. Also, the histogram of the MACD is slightly negative, as the two lines are approaching each other, indicating less strength in the bull side. Litecoin is still in the phase of consolidation.
Litecoin Eyes $636 Breakout Target as Triangle Tightens
Moreover, the crypto analyst, Captain Faibik, revealed that LTC is establishing a large and well-formed symmetrical triangle. The price is steadily making higher lows along the uptrending line, and lower highs are being compressed close to the apex. This is an indication of intense tightening action and constant accumulation over several years.
Source: X
However, the large breakout projection indicates the potential follow-through price action of about $636 within the range formed by the triangle. The target area is positioned significantly higher, indicating powerful upside action if follow-through occurs. The chart indicates significant high-timeframe squeeze action, potentially leading to powerful expansion.
Also Read: Litecoin Price Forecast: LTC Could Surge 40% Toward $112
