LTC Price Holding at $85: Will Support Lead to a Breakout Toward $96?

Litecoin (LTC)

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  • LTC’s price is holding at $85 support—key for the next move.
  • A break above $88 could push LTC toward the $96 resistance.
  • Intraday price action shows choppy movement, but structure remains intact.

Litecoin (LTC) is currently holding strong at the $85 support level, a crucial zone that could dictate its next price movement. The market is in a holding pattern, waiting for further confirmation on lower time frames to guide traders toward the next big move. With targets eyeing the $88 and $96 regions, understanding the structure of this price action is essential for traders looking for the next opportunity.

LTC’s Intraday Action: Watching the $85 Support

The $85 price zone has become a focal point for LTC traders. As the daily chart shows, the price is holding steady, bouncing off this key support multiple times. The market has reacted positively around this level, with buyers showing up to defend it. While the overall price action has been choppy throughout the day, the $85 support remains unbroken, indicating that there is still some bullish potential. This support zone is vital because a break below it could signal a larger pullback, while a continued hold could push the price toward higher targets.

Next Targets: $88 and $96 Key Resistance Levels

Looking ahead, LTC’s path seems to be aimed toward the $88 and $96 resistance areas. The $88 level, which sits just above the current price, is the first barrier traders will be watching closely. If LTC can break above this level with volume, the next major resistance at $96 will come into focus. The $96 mark is a significant level that has been on the radar of many traders, as it could signal a new bullish trend if broken. For now, LTC is trapped within a price range between $80 and $96, and the market’s next big move will depend on how it reacts within this range.

Source: CMC Data

Market Sentiment: The Importance of Structure and Timing

The broader market structure shows a price range between $80 and $96, which has guided LTC’s recent movements. The $85 support level is crucial because it anchors the current market structure, and any sustained price action above this point is likely to push LTC toward the next resistance zones. Traders are closely watching the $95.50 area as the next critical point to break. A clean break above this resistance could open up the possibility of further upside, with the $96 level as the next significant target.

In conclusion, LTC’s near-term direction hinges on the $85 support zone. If the price remains above this key level, traders are eyeing a potential rally towards $88, and eventually $96. However, if the support fails to hold, the outlook could shift bearish. For now, patience is key as traders await clearer signs of the next price action.

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 Price Analysis: Key Resistance at $101.50 Could Trigger Move to $112