Can Litecoin Price Bounce To $285? This Trend Maps Out 5 Major Levels
Since the beginning of the yr, Litecoin’s worth has fallen by nearly a 3rd of its January open, tumbling massively and briefly buying and selling round $45 in early February. The extended pullback has kept sentiment quiet, however Litecoin’s worth is now again to stabilizing round $53.
A recent technical analysis shared on X by crypto analyst Jonathan Carter exhibits {that a} triangle assist protection is at present taking part in out for Litecoin. Technical evaluation of Litecoin’s worth chart exhibits a descending triangle that has been creating for a number of years on the weekly timeframe. Right now, Litecoin is buying and selling near the triangle assist, and the (*5*)will decide whether or not Litecoin may launch to $285.
Descending Triangle Support Faces Major Test
The weekly chart exhibits Litecoin locked inside a large descending triangle structure, with a downward-sloping resistance trendline that has rejected rallies since its 2021 peak at $410. Each subsequent rally has printed decrease highs, and this has led to a long-term compression sample.
Now, the worth is sitting close to the decrease border of the formation, round $55-$45. This space is necessary as a result of it has all the time attracted consumers, and Litecoin has by no means traded beneath this stage since August 2020.
Carter famous that Litecoin is trying to bounce from this decrease border, with bulls stepping in as buying and selling quantity begins to extend.If this stage continues to carry, it could strengthen the case that there’s a return to bullish momentum.
The Five Major Levels On The Path Higher
The bullish outlook is that Litecoin is about to keep trending upwards after lately bouncing on the assist. The most up-to-date weekly candlesticks have been a reversal in nature, with a doji candlestick with final week’s candle, which is a reversal candlestick. That formation got here after 5 consecutive weekly pink closes, and this makes final week’s candle significantly notable, because it hints at potential exhaustion from sellers and the early levels of a pattern change.
If Litecoin sustains a bounce from the triangle’s base, then there’s a sequence of necessary resistance ranges that would form the restoration. Carter famous numerous upside checkpoints in between and $285 as the final word worth goal.
The first checkpoint sits round $63, a worth stage that acted as a pivot area throughout 2025. Clearing this stage on a weekly foundation would possible change the short-term momentum in favor of consumers. Above that, there may be one other resistance round $85 that would gradual the advance.
The subsequent mid-range targets are $115 and the 2025 swing high round $140. A transfer via these ranges would level to a bullish construction the place Litecoin returns to cost ranges not seen for the reason that 2021/2022 cycle. In this case, the worth targets are round $180, and the ultimate and most formidable stage on the chart is $285. However, that is nonetheless beneath the long-standing Litecoin all-time high of $410 in May 2021.
