Litecoin (LTC) Price Gaining Momentum: But Here's The Condition for Sustained Rally

Litecoin (LTC) is showing signs of life but it all could still be a recurrent consolidation pattern. According to crypto analyst Ali, while the momentum is building, there's a crucial condition that needs to be met for a sustained upward movement.

Litecoin (LTC) is gaining momentum, but its ability to sustain a rally hinges on a crucial condition, according to crypto analyst Ali. Litecoin is currently showing signs of life, trading at $120.

After a period of relative stagnation, Litecoin is finally showing signs of life. The digital asset is currently trading at $120, approaching a critical juncture.

A glance at Litecoin's price chart reveals a specific zone of consolidation, with the immediate challenge being the resistance level between $135 and $141. As Ali notes, “A sustained close above $141 could open the path toward $170–$200.” This breakout would be significant, potentially leading to higher targets.

However, it's crucial to note that a breakout needs to be confirmed with strong volume and momentum for a sustained upward movement. Without it, the price could stall or even reverse direction.

On the downside, several support levels could provide safety nets if the price retraces. The mid-range support sits around $114.50, with deeper support zones between $102.50-$108.50. In case of a more significant correction, the $86.50-$96.50 range serves as the last major support level.

Ali's analysis suggests a cautious but optimistic approach. Instead of rushing into positions, traders should wait for a clear breakout confirmation above $141. This level is pivotal, as a successful breach with strong volume could indeed pave the way for the projected targets of $170 and potentially $200.

On the other hand, if Litecoin fails to break through the $135-$141 resistance zone, we might see a pullback to test lower support levels. This scenario would present opportunities for traders to accumulate at more favorable prices, particularly around the $114.50 mark.

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