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While Litecoin (LTC) tries to get out of a bullish style, the analyst notes that the monthly closure over the main horizontal area can pay the price to the levels that have not been seen since the 2021 bull race.
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Litecoin attempt to collapse the main collapse
Litecoin has witnessed a remarkable gathering of 63 % of its lowest level in April during the month and a half, which increased the decisive levels in the past few weeks. Only this month, the cryptocurrency has regained the $ 80 and $ 90 support levels and tried to restore the $ 100 barrier again.
It is fueled by the market recovery and the Bitcoin crowd after $ 100,000, LTC reached the highest level of two months at 107 dollars about two weeks ago. Since then, Altcoin has struggled to keep a $ 100 brand.
However, analyst Karl Ronvilt from the moon’s width recently Proposal Litecoin “is about to pump.” The analyst has highlighted a bullish style on the LTC chart, which can witness a 20 % rise in the coded currency towards a sign of $ 117.5 for the first time since early March.
According to the RUNEFELT scheme, the encoded currency formed a loud science pattern after reaching a two -month height. Since then, LTC has been hovering between the upper and lower boundaries, bounced once by the support line towards the resistance line for the pattern.
Earlier this week, Litecoin wore support again after touching the level of $ 92, prompting the analyst to indicate that “every opportunity to get out of this bullish flag to the upward trend.”
On Friday, Altcoin jumped at 11 % of its lowest levels, briefly erupted and hit a $ 102 mark before recovering to $ 96. The encrypted currency now is between $ 98-99 levels, only 1 % lower than the upper limits of the pattern.
The high level of this level can confirm the collapse until it paves the way for the goal of the style of $ 117.5 and put a large mark towards the main horizontal level.
LTC preparation for gathering to $ 150?
Litecoin analyst Rikt Capital indicated that Litecoin needs a monthly monthly closure of the key resistance level to target the $ 150 sign and above. He highlighted the horizontal level from 110 to 125 dollars, explaining that LTC “spends most of its time below and a little time it exceeds relatively.”
The analyst pointed out that since 2019, this rejection of this resistance level became “gradually weaker over time as it was only two months, LTC has tried to re -test this region as support” during early 2025.
Despite its failure to restore this level, this may indicate that the resistance “is struggling to adhere to the price”, which is why the next penetration over this region can indicate that “successful re -test opportunities are high.”
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Moreover, the weakening of the resistance can be attributed to a decrease in the multi -year Marco, as Litecoin wore the rising trend line towards this resistance every time it is re -tested.
Accordingly, the analyst considers that the monthly closure is higher than the main horizontal level, followed by a re -test to confirm the penetration, would give the necessary power to a 30 % equipment over the mark of $ 150 for the first time since 2021.
As of this writing, Litecoin trades at $ 98.60, a decrease of 2.7 % in the weekly timetable.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
