Litecoin Near Key Resistance: $101.50 Could Trigger Next Rally

Litecoin (LTC)

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  • LTC support at $96 is holding strong.
  • Resistance at $101.50 could trigger breakout.
  • Next major targets: $112 and $140.

Litecoin (LTC) is navigating a delicate balance as traders watch crucial resistance levels near $101.50 and $112. After a period of indecisive price movement, analysts suggest that a shift in Bitcoin dominance could spark renewed momentum for LTC.

Daily Outlook: Maintaining Support Is Crucial

Litecoin’s daily charts show an ongoing consolidation phase, signaling short-term uncertainty. Support around $96.00 has been identified as a critical level. Holding above this threshold demonstrates market resilience and could pave the way for a move toward $112.00. Analysts see this as a healthy progression within a broader recovery framework, suggesting accumulation by patient traders.

Momentum indicators remain moderate, indicating that Litecoin may be quietly building strength before a potential breakout. As Bitcoin dominance softens, altcoins like LTC could benefit from increased inflows, adding fuel to the next upward leg.

Intraday Action: Choppy Range Near $101.50

On intraday charts, Litecoin is testing resistance around $101.50. Traders are waiting for a clear breakout above this level to confirm strength and potentially trigger long positions. Failure to hold above this zone could keep LTC range-bound between $96.00 and $101.00, acting as a staging ground for the next decisive move.

Current volatility remains compressed, providing an opportunity for a structured setup in lower time frames. A decisive move above $101.50 may then target $112.00, with a longer-term outlook stretching toward $140.00, which has historically acted as a reversal point.

Key Question: Can Litecoin Sustain an Uptrend?

The pressing question for the market is whether Litecoin can break and sustain momentum above its current resistance. Healthy consolidation often precedes stronger upward phases, and LTC’s near-term trajectory will depend on volume expansion and confirmation from market participants.

Also Read: Litecoin Price Rally: Surges Above $100 as ETF Launch Sparks Bullish Momentum

Analysts emphasize that maintaining support above $96.00 could set the stage for a gradual climb to $112.00. A successful breakout beyond this would potentially unlock higher levels near $140.00, echoing recovery patterns observed in mid-2023. Traders are closely watching for signals that could define LTC’s trend for the coming sessions.

Litecoin remains in a critical phase, balancing between consolidation and potential breakout. Support at $96.00 is key, while resistance at $101.50 and $112.00 will determine the altcoin’s next directional move. Patient traders may find opportunities as momentum builds and market clarity improves.

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.