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Key Takeaways:
- Litecoin trades near $115, testing long-term resistance formed from the 2021 high.
- Price compression within a six-year triangle suggests a breakout is likely by late 2025.
- Upside targets between $295 and $650 could follow if LTC breaks out above its current wedge.
Litecoin (LTC) is once again pressing against a key technical resistance near $115, reigniting market speculation around a potential breakout from its multi-year triangle pattern. The cryptocurrency, often dubbed the “silver to Bitcoin’s gold,” has been trading within a compressing wedge since 2018—marked by higher lows and lower highs—forming a long-term structure that could be approaching resolution.
Litecoin Price Climbs Toward $115 Amid Intraday Strength
According to CoinMarketCap, Litecoin is trading at $115.05, up 1.88% in the last 24 hours. After opening the session near $113, LTC briefly dipped to $108 before buyers stepped in, pushing the price above $114 in the afternoon. The intraday chart revealed a sharp recovery, with strong upward momentum and multiple bullish pullbacks suggesting renewed buying pressure.
This sharp rebound from session lows highlights continued interest in Litecoin around the $110 zone, especially as traders position for a breakout from its contracting triangle.
Technical Compression Points to Late 2025 Apex
Analysts, including CryptoBullet on X, point out that Litecoin’s triangle pattern originates from the 2018 low near $23, with the descending upper trendline stemming from its 2021 peak near $400. The price structure has narrowed over six years, with both upper and lower boundaries consistently respected on the weekly chart.
With the apex projected for late 2025, many traders expect that Litecoin could break free from this long-term compression within the next few months. The key mid-range support around $90, supported by volume profile data, continues to act as a buffer zone during pullbacks.
Breakout Targets Suggest Significant Upside
Despite repeated rejections at the upper boundary of the triangle, Litecoin has formed a pattern of higher lows since mid-2022, indicating sustained bullish pressure. While the latest weekly candle briefly pierced resistance without closing above it, the bullish momentum remains intact.
Also Read: Litecoin (LTC) Breakout Imminent: 7-Year Triangle Nears End as Price Targets $300+
A measured move projection using Fibonacci extensions places the next major upside target at $295, with a long-term goal around $650—representing the 1.618 extension above the previous cycle high. This aligns with the current technical compression and declining volatility, a combination often preceding explosive moves in crypto markets.
Litecoin’s multi-year wedge is nearing a breaking point. Whether the breakout occurs this quarter or closer to the 2025 apex, the price structure signals that LTC may not remain range-bound for much longer.
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.
