- Analysts predict a breakout to $354 after LTC’s rally beyond a multi-year resistance trendline, an implied more than 270% potential upside.
- An important breakout point to look for is $94, with targets at $98 and $102 if proven on daily candle close, but resistance is firm.
- Litecoin has the potential to lead the altcoin charge, and rising volume, along with technical confirmation.
Litecoin (LTC) is on its positive trend and experiencing the appreciation of its price along with the general market. The 24-hour value of LTC has appreciated by 2.5%, and over the last seven days, it is also up by 3.58%.
The BTC now trades over its historic high of over $112,000 and reaches its latest highs. It has been impacting the market positively, including altcoins such as LTC.
The present value of LTC stands at $92.99 with 24 hours’ volume of $501.9 million. The LTC’s market capitalization stands at $7.06 billion, also up by 2.5% as well.
Also Read: Litecoin (LTC) at a Crossroads: Will It Break Above $86.85 or Crash Below $84?
Litecoin Bulls Target $354 After Key Breakout
A prominent crypto analyst, Javon Marks, highlighted that Litecoin (LTC) could be on the verge of a historic breakout surge, moving above a long-standing down-trending resistance trendline that has kept its price in check since the 2021 bull run. The clear-cut break, accompanied by heavy volume, is one indicating a change in trend and sets the tone for a massive rally to the upside.
Analysts now point to $354.36, where they see the potential for more than 270% profit from the current price, based on the classic measured move from the prior range’s high point.
Whereas most altcoins continue range-bound, LTC has early indications of leadership in a prospective alt-season. With positive trend development, the question now is, might Litecoin be ready to 4x? The analysts point to the coming weeks being determinant.
Litecoin Nears $102: Will It Unlock a Bull Run or Consolidate?
Moreover, another crypto analyst highlighted that medium-term technical insight has once again proven accurate as LTC maintains bullish momentum. It’s showing strength on the 4-hour (H4) chart and is now testing a breakout on the daily timeframe, a strong sign that bulls are eyeing a push higher.
But one has to be careful. The confirmation of this breakout is a daily candle close over $94.00, and until that time, traders must look for potential rejection or near-term consolidation.
If LTC achieves a close above $94, the bullish argument becomes quite strong. Targets of $98 and even $102 come onto the radar. During times of market disturbance, these areas will have to be approached delicately. The setup is still attractive, but expert traders continue to monitor price action for confirmation. Litecoin may be at the verge of a turning point.
Also Read: $80 or $150? Litecoin Traders Brace for a Make-or-Break Breakout
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
