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Key Takeaways:
- Litecoin is showing bullish momentum against USDT, BTC, and ETH.
- A weekly close above $120 could confirm a major breakout.
- LTC price may surge toward the $200–$230 range if resistance fails.
After months of underperformance, Litecoin (LTC) is showing signs of a strong trend reversal — not just against the US dollar, but also against Bitcoin (BTC) and Ethereum (ETH). Technical indicators are aligning, suggesting August may be a pivotal month for Litecoin’s price trajectory.
LTC Attempts Fifth Breakout From Resistance
Litecoin’s price has been trapped under a descending resistance trend line since December 2024. It also slipped below the key $105 support — a level that has held significance since 2022. However, July brought a reclaim of this area, and LTC is now making its fifth attempt to break above the resistance line.
The coin has already moved above the trend line but must close the week above $120 to confirm the breakout. Should this occur, analysts suggest there’s little horizontal resistance ahead, potentially allowing LTC to rally toward the $200–$230 range.
Technical Indicators Signal Bullish Momentum
Momentum metrics are strengthening in favor of the bulls. The weekly RSI has crossed the midline at 50, and the MACD has turned positive — both classic signs of a potential upward move.
On shorter timeframes, Litecoin completed a five-wave upward movement followed by a textbook A-B-C correction within a descending wedge. Since breaking out of the wedge, the price action suggests a fresh bullish phase is underway.
Litecoin Gains vs Bitcoin and Ethereum
What sets Litecoin apart in the current market cycle is its relative strength against both BTC and ETH. Most altcoins have underperformed Ethereum while outpacing Bitcoin. Litecoin, however, is gaining ground on both.
Also Read: Litecoin (LTC) Eyes Breakout as Price Nears $115 and Multi-Year Triangle Tightens
The LTC/ETH pair has formed a double bottom and shows bullish divergences on the RSI and MACD. Against Bitcoin, Litecoin has broken both a key trend line and horizontal resistance — another confirmation of strength.
If Litecoin confirms its breakout with a strong weekly close, momentum could rapidly carry the coin higher. With supportive technicals across multiple trading pairs, LTC appears primed for a strong rally — possibly making it one of August’s top-performing cryptocurrencies.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
