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- LTC trading near $100 with a bullish chart setup forming.
- Exchange outflows and long positions indicate accumulation.
- A breakout above $105 could trigger a 30% rally to $137.
Litecoin (LTC) is showing renewed bullish momentum as technical indicators point toward a potential breakout. The asset, currently trading around $100, has gained roughly 0.75% in the last 24 hours. What’s fueling this optimism is not just the price uptick but also the 25% surge in trading volume to $775 million, signaling rising trader participation and confidence.
Derivatives and Exchange Data Point to Accumulation
Data from CoinGlass shows a strong build-up of long positions, particularly around the $97–$102 range. Traders have committed over $8.74 million in longs against $2.87 million in shorts, underscoring the bullish bias. Moreover, LTC has seen $4.08 million flowing out of exchanges in the past 24 hours — a classic indicator of accumulation. Such outflows often reflect growing conviction among investors who prefer to hold rather than trade in the short term.
Technical Setup Suggests Imminent Breakout
On the technical front, LTC has formed a bullish inverted head and shoulders pattern, a well-known reversal setup that often precedes major rallies. If the price breaks above the neckline at $105 with a daily close, analysts suggest it could trigger a 30% upside move, potentially pushing LTC toward $137.
However, the Supertrend indicator still flashes red, signaling residual selling pressure. The ADX reading at 29.95, above the key 25 level, indicates that momentum is strengthening — a positive sign for bulls looking for confirmation.
LTC Bulls Gaining Confidence
While Litecoin remains just below a critical resistance, the growing long positions, strong outflows, and bullish chart pattern collectively suggest that a breakout may be near. Traders will be watching the $105 mark closely — a decisive move above it could set the tone for the next major rally in LTC.
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.
Also Read: Litecoin Near Key Resistance: $101.50 Could Trigger Next Rally
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.
