Litecoin's (LTC) price is showing signs of a breakout after being under pressure for a long time. Analysts are discussing the potential rise to the $130 level.
Breakout Above Long-Term Trendline
Litecoin has been forming a symmetrical triangle for six years, indicating a gradual squeezing towards a breakout point. The price has recently moved slightly above the upper boundary of this triangle.
MACD Signal Supports Short-Term Move
On the hourly charts, a bullish MACD crossover has appeared, indicating buyer activity. Analyst NumberOfWealth highlighted this signal, predicting that LTC could reach the $130 mark in the coming hours.
Key Levels to Watch
Support around $112 continues to hold strong. On the resistance side, $130 is shaping up as the next key level. Traders should closely monitor this mark.
Litecoin's current movement is attracting trader interest, and a breakout at the $130 level will be a significant test for further growth.
