Key Takeaways
- Litecoin (LTC) trades above the key support of $90 as bulls control the price.
- Litecoin’s (LTC) price action looks the best since its breakout in December 2024 as bulls aim to rally prices toward new highs.
- LTC price trading above the 50-day and 200-day EMAs is good for price-generating strong bullish interest in crypto.
The price of Litecoin (LTC) has struggled to match the expectations of many traders and investors following its rally to $115 in 2024 with the price suffering a significant price decline from $115 to $65, leaving Litecoin’s recovery longer than expected.
Litecoin, in December of 2024, began showing some signs of price attempting to join altcoins rallying to new highs but was cut short during the December break as many altcoins, including Litecoin (LTC), were unable to find a strong volume that could ignite price rally to the upside.
The price of Litecoin (LTC) formed strong support at around $75. It has demonstrated strong uptrend momentum in the past weeks despite the crypto market suffering a drastic price decline. The price of Bitcoin crashed from a region of $107,000 to a low of $90,500, leading to a price crash among altcoins.
Litecoin (LTC) has shown one of the best price actions. Bulls fully control the price and could push it to a high of $150 in the coming days or weeks.
Litecoin Market Sentiment As Bitcoin Aims For Recovery
Source – LTC On-chain Activities From Coinglass
Litecoin (LTC) on-chain data shows that the price is beginning to gain much attention and volume following its recent price action volume over the past couple of days. The price attempts to maintain its current price action towards the key resistance of $140.
A break and close above this key resistance of $140 could see Litecoin (LTC) rally to a high of $170 and $200. The current price action for LTC is impressive, generating a lot of interest in the past few days, and could continue to trend higher.
Litecoin (LTC) Technical Analysis – Is LTC A Buy Or Sell?
Source – LTC 4HR Price Chart from TradingView
The price of Litecoin (LTC) ranged around $70 to $90 but broke out with strong price volume, rallying towards a new yearly high of $145, but the price was rejected by bears as the price of Litecoin (LTC) retraced to $90 where its price formed a strong support by bulls to resume its uptrend price momentum.
With the price of Litecoin (LTC) breaking out from its yearly range, crypto experts are highly speculating that it will continue in an uptrend following its strong rally to a new yearly high.
The price of LTC trading above $100 is good for bulls as it looks strong, holding above the key support zone of $95. Despite suffering a scare towards a region of $85, the price bounced to trade above key support, and it is speculated to continue in its buy action to a high of $140.
Litecoin (LTC) trading above its 50-day and 200-day EMAs (Exponential Moving Averages) is a good sign for price, with bulls fully in control. If the price of LTC breaks above its $140 to $145 resistance region following its current rally, we could see the price of LTC stand a chance to rally towards $175 to $200.
The key area of interest for traders and investors remains the resistance zone of $145, as price reaction around this zone could indicate whether bulls will push the price higher or whether there will be a retracement in the LTC price.
