The Litecoin (LTC) price has again approached the long-term ascending support line and is trying to leave the short-term bullish model.

We are discussing whether Litecoin will be able to return to the $100 level, or its efforts to continue growth will be unsuccessful.

How to purchase Litecoin: the best options for convenience

Litecoin has rebounded from long-term support

Litecoin has been moving along the long-term upward support since June 2022. Since August 2023, the LTC price has already reflected its path from the trend line six times, and several of them coincided with the horizontal support area.

This week, the asset has started to move up, but so far has not shown impressive results.

The weekly Relative Strength Index (RSI) shows bullish dynamics. The indicator has just crossed the 50 mark, which indicates a possible continuation of growth.

LTC Price Forecast: Will the breakout attempt succeed

Technical analysis on the daily chart confirms the bullish mood of the weekly. The graph shows that LTC is in the process of exiting the ascending triangle, which has existed since August 2022. Despite the fact that altcoin has overcome resistance, it has yet to close the day above this level.

The daily RSI supports the prospects of a breakthrough: the indicator has risen above 50 and continues to grow. If the upward movement continues, Litecoin may reach the resistance area of $95, which is 28% higher than the current price level.

However, a deviation from the $75 resistance level could lead to a 12 percent drop to the triangle support line at $68.