In Brief

• Litecoin’s (LTC) price has traded without volatility for the past two months but bounced last week.
• The weekly and daily time frame readings are both bullish, supporting the continuing of the increase.
• Despite the bullish LTC price prediction, failure to break out from the triangle can catalyze a decrease.

The Litecoin (LTC) price bounced at a long-term ascending support trend line and is breaking out from a short-term bullish pattern.

Will Litecoin successfully break out and finally move toward $100, or will it fail to maintain the increase? Let’s find out.

Litecoin Bounces at Long-Term Support

The Litecoin price has increased alongside a long-term ascending support trend line since June 2022. The trend line has existed for 630 days. Starting in August 2023, the LTC price bounced at the trend line six times (green icons), some of them coinciding with a horizontal support area.

This week, the LTC price seemingly began an upward movement but trades only incrementally above the ascending support trend line.

Despite the lack of an upward movement, the weekly Relative Strength Index (RSI) gives a bullish reading. When evaluating market conditions, traders use the RSI as a momentum indicator to determine whether a market is overbought or oversold and whether to accumulate or sell an asset.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true. The weekly RSI just moved above 50, indicating a bullish trend.

Litecoin Price Prediction: Has the Breakout Begun?

The technical analysis of the daily time frame aligns with the bullish readings from the weekly one. The chart shows that LTC is in the process of breaking out from an ascending triangle that has existed since August 2022. While LTC has moved above the triangle’s resistance, it has yet to reach a daily close above it.

The daily RSI supports this breakout since it is above 50 and increasing, both signs of a bullish trend. If the increase continues, LTC can reach the $95 resistance area, 28% above the current price.

Despite the bullish LTC price prediction, a rejection from the $75 resistance can trigger a 12% drop to the triangle’s support trend line at $68.