Litecoin Primed for 40% Rally – $112 Target in Sight as Bulls Take Control
Litecoin's price action is flashing bullish signals, with technicals suggesting a potential 40% surge toward $112. The 'digital silver' to Bitcoin's gold is shaking off market lethargy as traders position for upside.
Why the momentum shift? Litecoin's recent breakout above key resistance levels has triggered algorithmic buying, while spot market demand picks up among retail traders chasing the next leg up.
Market veterans remain cautiously optimistic—remember when analysts predicted $500 LTC during the 2021 mania? This time, the move appears more technically grounded rather than pure speculation. Though as any crypto skeptic will tell you, 'fundamentals' in this space often just mean 'higher prices until they don't.'
Watch the $112 level: a clean break could see Litecoin test yearly highs, while rejection here might send traders scrambling for exits. Either way, volatility is back on the menu.
- Litecoin could rise sharply, potentially achieving a 40% surge toward $112 soon.
- Analyst LaCryptoLycus observes Litecoin following previous cycles, signaling a third major bullish phase.
- Key resistance levels at $101.50 intraday and $112.25 may confirm a bullish breakout opportunity.
Litecoin (LTC) is appearing to start a new bullish cycle after closely tracking the trends of the former market cycles. It has been observed that if the trend continues, a sharp rise in prices might be achieved within a short span of time. The performance of Bitcoin will play a prominent role in the future movement of Litecoin.
Litecoin Poised for Major Cycle Rally
Popular crypto analyst LaCryptoLycus observed that Litecoin has been following the pattern of the two preceding cycles perfectly since last year, and every time the cycle completes, there’s a massive hike that follows.
LaCryptoLycus reasons that the current scenario marks the start of the third cycle for LTC, and the common trendline remains intact above the cryptocurrency’s price, similar to the last two cycles. This could lead to a clean hike of at least 40%.
At the time of writing, Litecoin is trading at $97.42, with a 24-hour trading volume of $2.19 billion and a market capitalization of $7.34 billion. Over the past 24 hours, LTC has seen a decline of 3.73%.
Litecoin Eyes Key Market Levels
Another analyst, CRYPTOWZRD, noted that LTC ended the day with unclear action, having a candle with wicks on both sides. He noted that the day’s chart will be closely followed for any trading opportunities, although the actions of bitcoin will greatly affect the future of Litecoin.
The daily candle for the LTC and LTC/BTC pair also closed flat. If the LTC market is to turn positive, the LTC/BTC pair must breach the next resistance level and the double top pattern.
The fact that prices are currently above $96 is considered a positive indication, but the daily candles must be strong to confirm a positive opportunity. The performance of the crypto markets, approaching the end of the week, will greatly influence the short-term future of the LTC markets.
LTC Eyes Crucial Resistance Levels
The intraday chart also revealed volatility for today. With a shift towards the $101.50 intraday resistance level, further bullish actions might be triggered. If the prices of LTC manage to remain above the level, the resistance at $112.25 will be tested. Yet if the level of $101.50 cannot be breached, the sideways trend might be ongoing.
