Litecoin (LTC) Price Eyes Breakout: Watch This Key Level for a Major Rally

Litecoin has been trading sideways for a while, and there are some conditions that must be output: {"id": 986671922824151040, "text": "input: Litecoin (LTC) Price Eyes Breakout: Watch This Key Level for a Major Rally\noutput: title: LTC Price Enters Buying Zone as Key On-Chain Metric Drops 50%"};

Litecoin (LTC) has been trading sideways for a while, and there are some conditions that must be met before a decisive breakout. A popular crypto analyst on X, Ali, reveals a key level that the LTC price must overcome for a chance to start a major rally.

Litecoin needs to decisively break above $136 to confirm a bullish breakout that could potentially trigger a substantial rally.

What Happens When Litecoin Price Breaks $136?

A daily close above $136 would represent a clean break from the recent range-bound behavior, which could attract technical buyers and technical indicators. It would also trigger a cascade of short-covering from traders who had bet on continued range trading or lower prices.

If LTC manages to close decisively above $136, the next targets for bulls would likely fall in the $140-$150 region, representing potential gains of 10-18% from current levels. Conversely, rejection at this resistance could send prices back toward the midrange support at $122 or potentially all the way back to the established floor at $114.

For traders and investors watching Litecoin, the message from this analysis is clear – wait for confirmation before making significant moves. A false breakout could trap buyers at unfavorable prices, while missing a genuine breakout might mean leaving substantial profits on the table.

Litecoin price is currently trading at $121.07. LTC has decreased by approximately 3.5% over the past 24 hours.

Looking at the daily timeframe, Litecoin has established a clear trading range over the past two months. The lower support around $114 has proven reliable, with the price rebounding from this area multiple times since the beginning of the year. This level appears to be where buyers consistently step in, preventing further downside.

On the upper end, the $136 mark has emerged as the barrier that bulls have failed to overcome. Each time Litecoin approaches this resistance, selling pressure intensifies, pushing the price back down toward the middle of the range. This price action has created a pattern of higher lows but consistent rejection at the same ceiling.

The technical indicators reveal interesting market dynamics at play. A strong buy signal appeared in early January when Litecoin dropped to recent lows. However, subsequent sell signals emerged at higher price levels in late January and mid-February, indicating overbought conditions that preceded pullbacks.

Between the major support and resistance levels, a minor pivot point around $122-$124 has formed, acting as a swing level where the price often hesitates before determining its next direction. This middle zone frequently serves as temporary support during downtrends and resistance during uptrends.

The market momentum for Litecoin has been characterized by frequent price swings, reflecting broader uncertainty in the cryptocurrency markets. Periods of accumulation have been followed by distribution, creating a choppy pattern that makes trend identification challenging for traders.