- Litecoin has outperformed Bitcoin recently, maintaining strong support above $120 and showing bullish momentum, with potential gains if it breaks the $130-$140 resistance zone.
- However, failure to clear these levels could lead to a pullback toward $110 or lower, making the next few days crucial for its price direction.
Litecoin (LTC) has been making waves in the cryptocurrency market, outperforming Bitcoin in recent days. While Bitcoin struggled, Litecoin remained in a strong upward trend, raising speculation about a potential bigger move ahead. Can LTC sustain its momentum, or is a correction on the horizon?
Litecoin Price Outpaces Bitcoin
Litecoin has seen significant growth, breaking past key resistance levels at $100 and $120. The price even surged above $132 and the 50-day simple moving average (SMA), reaching as high as $140 before a minor pullback occurred.
Despite this correction, Litecoin held its ground better than Bitcoin and Ethereum. Currently, LTC is stabilizing around $125, maintaining its position above the 50-day SMA and a crucial bullish trend line at $105.
The recent price movement indicates strong bullish sentiment. The immediate resistance level stands at $130, with a more substantial barrier at $135. If Litecoin manages to break and close above $140, a steady upward trend could follow, pushing the price toward $150. A breakthrough beyond $150 might see Litecoin aiming for $162, with further potential gains leading to $180 or even the $200 mark in the coming weeks.
Are Dips Supported in LTC?
While Litecoin shows resilience, it faces the risk of a downside correction if it struggles to break the $130-$135 resistance zone. In such a scenario, the immediate support level is at $115, followed by a stronger base at $110. This aligns with the 50% Fibonacci retracement level from its $80 swing low to the $140 high.
If Litecoin drops below $110, it could test the bullish trend line at $105. A breach of this level may trigger a deeper decline toward $98 or even $80.
What’s Next for Litecoin?
At the moment, Litecoin remains stable above $120 and exhibits bullish signals. To maintain upward momentum, LTC must break above $130 and hold above it. If the bulls gain control and push the price past $140, Litecoin could enter a new rally phase. However, failure to clear these resistance levels might result in a short-term pullback toward $110 or even $105.
For traders and investors, the next few days will be crucial in determining whether Litecoin continues its bullish run or experiences a temporary setback. Either way, LTC remains one of the top-performing assets in the current market cycle.