24/7 Cryptocurrency News

Litecoin Price Prediction: Triangle Breakout May Trigger Bullish Rally

Published by
Litecoin Price Prediction: Triangle Breakout May Trigger Bullish Rally

The Litecoin(LTC) price escaped the downtrend-carrying wedge pattern with a massive breakout on March 24th. However, the retest phase is taking longer than expected, questioning the reliability of the bullish breakout. Furthermore, the technical chart displays another price pattern to resolve the uncertainty in the market. 

Advertisement

Key points

  • The LTC/USDT pair resonating within a symmetrical triangle 
  • The 20-day EMA assets buyers during the retest phase
  • The intraday trading volume in the Litecoin coin is $706.3 Million, indicating a 3.3% gain

Source- Tradingview

Under the influence of RSI divergence, the LTC price rebounded from $98.2 on March 8th. The steady recovery rally rose the altcoin by 35% and managed to pierce the falling wedge pattern that governed most of the last quarter. 

The LTC price reverted from the $134 mark to retest the breached resistance trendline. The 20-day EMA aligned with this descending trendline gives additional support to long traders. Even so, the buyers struggle to rise higher and have witnessed a sideways rally since the past week.

The minor consolidation has revealed a symmetrical triangle pattern in the 4-hour time frame. This continuation pattern could resume the bullish rally once the price gives a genuine breakout from the pattern’s resistance trendline.

However, the possibility of a bearish breakdown from the triangle cannot be ignored, and if sellers succeed to pull the price below the descending trendline, the altcoin could tumble 15% to the $100 mark.

Advertisement

Technical indicator

The crucial EMAs(20, 50, 100, and 200) have started to rise again or move sideways, indicating the buyers are gaining control over the bears. So far, the bullish rally has regained the 20-and-50-day EMA, which has flipped to valid support levels.

The bearish crossover of the fast and slow line from the MACD indicator threatens a fake out of the falling wedge pattern. However, the indicator lines are still close, meaning the bulls haven’t given up yet.

  • Resistance level- $141 and $153
  • Support levels- $116, and $100-$98
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation

The Solana price narrative continues to gain traction as market voices highlight both technical accumulation…

September 26, 2025
  • Price Analysis

Avalanche Price Could Surge to $50 as Transactions Jump 200%

Avalanche price has sunk into a correction after falling by 16% from its highest point…

September 26, 2025
  • Price Analysis

CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?

Chimpee, the project behind the hyped CHMPZ tokens, combines the best of both worlds. It…

September 26, 2025
  • Price Analysis

Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M

Ethereum price is showing signs of resilience after recent turbulence, with renewed attention on whale…

September 26, 2025
  • Price Analysis

HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?

The HYPE price outlook has gained attention after a market analyst, Ali Charts, remarked that…

September 26, 2025
  • Price Analysis

Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%

The Shiba Inu price has drawn attention as its chart shows tightening consolidation near a…

September 26, 2025