Analysts are turning their attention to Litecoin (LTC) in light of a promising technical pattern that may indicate a market reversal.
Triple Bottom Formation on Litecoin Chart
Analyst Santolita noted on X (formerly Twitter) the emergence of a triple bottom on the LTC chart. This may signal a potential trend reversal and a price increase above $100. The chart shows three rounded lows, each around the $77–78 mark, indicating consistent buyer support.
Resistance Level and Key Breakout Points
On the LTC chart, the $88 level marks a critical resistance level. A firm move above this level could signal the start of a bullish trend. Currently, the LTC price is at $82.97, which is above the established support zone but still below the resistance level.
Target Levels and Expected Growth Dynamics
It is projected that the target level could be around $100 to $102 if LTC surpasses the $88 resistance. Sustained upward pressure is expected if LTC breaks through resistance, with further resistance levels at $90, $95, and $100. Ongoing discussions among traders regarding potential outcomes increase attention on LTC's price action in the short term.
For now, Litecoin remains within its established support and resistance boundaries, and future developments will depend on whether the price can breach the critical $88 level.
