Litecoin Breaks Key Trendline: Next Target $72 and Beyond?

Litecoin price has broken above a key trendline, signaling potential bullish momentum. Trading at $65.33, the price could aim for targets of $72, $82, $90, and $108, with technical and on-chain activity providing mixed signals.

Litecoin (LTC) is showing strong bullish momentum after breaking above a significant trendline. Trading at $65.33 at the time of writing, this breakout could mark the start of a larger price move, potentially targeting key levels such as $72, $82, $90, and $108. Crypto analyst Jonathan Carter highlighted these potential price targets in a recent post on X (formerly known as Twitter).

The move above the descending channel is seen as a positive development for Litecoin’s price trajectory. However, several technical and on-chain factors will play a role in determining if this upward momentum is sustainable.

On-Chain Activity Boosts Sentiment

Litecoin’s network activity has been growing, with active addresses increasing from 285,924 to 289,064 in just 24 hours. This suggests that interest in Litecoin is rising, which could support the ongoing price rally. However, other on-chain metrics provide a more cautious outlook. For instance, while net network growth remains neutral at 0.34%, the concentration of large holders has turned slightly bearish at -0.27%.

This bearish concentration indicates that some larger investors are still hesitant, even though the increase in active addresses and transactions points to growing interest among smaller participants.

Technical Indicators: A Mixed Yet Promising Picture

From a technical standpoint, indicators for Litecoin are offering a mixed view. The Bollinger Bands show an increase in price volatility, with the current price near the upper band at $66.24. This suggests that the market is gearing up for more volatility, potentially signaling a continued upward move.

The Relative Strength Index (RSI) stands at 53.37, indicating mild bullish sentiment. If the RSI edges closer to overbought territory, it could confirm that the current momentum is strong enough to continue pushing prices higher. Additionally, staying above the recent breakout level will be crucial in reinforcing the idea that this rally is more than just a temporary surge.

Key Levels to Watch

With Litecoin successfully breaking out of its descending channel, several important price levels are in focus. The first key resistance level is at $72, and if this level is breached, the next targets would be $82, $90, and $108. However, should Litecoin fail to maintain its breakout, the price could face a pullback, potentially testing support at lower levels.

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