Litecoin (LTC) is poised to make significant strides, but it must overcome key resistance levels to set its upward trajectory in motion: An analysis spanning LTC's short, medium, and long-term perspectives.

Short-Term LTC Analysis

In the short term, Litecoin (LTC) has successfully breached a short-term horizontal trend channel in an upward direction. This breakthrough signifies a strong and ongoing development, with the currency establishing support below trendlines to anticipate potential reactions. Furthermore, the positive signal stemming from the upward break of the $66.24 resistance level, formed by an inverse head and shoulders pattern, suggests further upside potential, with a target of $74.61 or higher.

Litecoin is currently situated between support at $64.00 and resistance at $67.00. A definitive break above or below one of these levels will provide clear direction for the currency. It's worth noting that the Relative Strength Index (RSI) shows a negative divergence from the price, hinting at the possibility of a downward reaction. Nevertheless, in the short term, the currency is generally perceived as technically positive.

Medium-Term LTC Analysis

Looking at the medium term, Litecoin has surpassed the upper boundary of the medium-term downtrend channel. This initial move suggests a slowdown in the decline or the start of a more horizontal trend. The currency has also received a positive signal from breaking the $66.24 resistance level, originating from the inverse head and shoulders formation. Similar to the short term, this points to further upside potential, targeting $74.61 or higher. However, it's important to note that there is limited support visible on the price chart, which may indicate the potential for further decline. In the event of a positive reaction, Litecoin could encounter resistance at $78.00. Volume patterns, with high volume at previous price peaks and low volume at price bottoms, strengthen the currency's position. In the medium term, Litecoin is generally considered to be technically neutral.

Long-Term LTC Analysis

In the long term, Litecoin has moved below a long-term uptrend channel, suggesting somewhat diminished upward momentum initially. Nonetheless, the currency has breached the $65.00 resistance level, signifying the potential for further upside. In the long term, Litecoin is generally viewed as technically positive.

Litecoin Price

As of now, the current Litecoin price stands at $65.79 USD, accompanied by a 24-hour trading volume of $224,634,177 USD. Litecoin has experienced a 1.26% decrease in the last 24 hours. Litecoin holds the 15th position in terms of market ranking, boasting a market capitalization of $4,850,339,028 USD. There are 73,720,902 LTC tokens in circulation, with a maximum supply of 84,000,000 LTC tokens.