Litecoin (LTC) is gaining momentum on its positive path even as the price reflects mixed moves in the short run. Over the past 24 hours, the asset slipped by 1.68%, yet a weekly gain of 1.94% shows resilience in its performance.
At the time of reporting, LTC trades at $113.24 with a sharp increase in 24-hour trading volume, which surged by 76.21% to $575.97 million. Its market capitalization currently stands at $8.63 billion, confirming continued investor interest.
However, on the four-hour chart, Litecoin’s value is hovering around $113.03, just below a minor resistance band. The market recently escaped a tight consolidation range between $109 and $114, highlighting short-term bullish strength.
Buyers have been establishing higher lows, signaling increasing control. However, the next significant challenge lies within the $128–$134 resistance zone, an area where selling pressure has historically limited upside moves.
Resistance zones and reversal risks
Technical signals point to the region around $128–$134 supply area as a make-or-break point in whether momentum continues or gives way. The region was a ceiling in prior upswings, and sellers may be regarding it as a likely point of rejection. A prospective double-top or false breakdown can be created here, a classical lead-in point to a bearish reversal. The breakdown could be extended down towards the support area around $106.60, which has remained sturdy in prior moves.
Traders are on the lookout for a reversal candlestick formation and a potential bearish divergence. These are confirmations that would support the case that sellers can come into control if price is unable to make progress above the resistance area. However, a clean breakout above $134 could eliminate bearish potential and send the market higher.
Litecoin long-term outlook and targets
However, Litecoin on the weekly chart is probing the upper side of a symmetrical triangle formed since mid-2021. An attempted breakout near the $114–$115 zone, corresponding with the 50-week moving average, is a bullish sign. Such a breakout, if maintained, targets reach as high as $140 and $180, and a larger picture targets as high as $285. Above those levels, a breakout could set up a move towards $410, retracing all-time highs.
This setup suggests Litecoin may be breaking out from a phase of consolidation into a new bullish trend, if momentum sustains above major trendlines and averages.
