{"id":68820,"date":"2025-05-24T06:00:18","date_gmt":"2025-05-24T06:00:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=68820"},"modified":"2025-05-24T06:00:18","modified_gmt":"2025-05-24T06:00:18","slug":"litecoin-monthly-close-above-key-resistance-could-ignite-30-rally-is-a-breakout-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=68820","title":{"rendered":"Litecoin Monthly Close Above Key Resistance Could Ignite 30% Rally \u2013 Is A Breakout Coming?"},"content":{"rendered":"

As Litecoin (LTC) tries to break out of a bullish pattern, an analyst suggests that a monthly close above its key horizontal zone could propel the price to levels not seen since the 2021 bull run.<\/p>\n

Litecoin Attempting Key Breakout<\/h2>\n

Litecoin has seen a remarkable<\/a> 63% rally from April\u2019s lows over the past month and a half, surging above crucial levels in the past few weeks. Just this month, the cryptocurrency has recovered the $80 and $90 support levels and attempted to reclaim the $100 barrier again.<\/p>\n

Fueled by the market recovery and Bitcoin\u2019s rally past the $100,000 mark, LTC hit a two-month high of $107 nearly two weeks ago. Since then, the altcoin has struggled to hold the $100 mark.<\/p>\n

However, analyst Carl Runefelt from The Moon Show recently suggested<\/a> that Litecoin \u201cis about to pump.\u201d The analyst highlighted a bullish pattern on LTC\u2019s chart, which could see the cryptocurrency rise 20% toward the $117.5 mark for the first time since early March.<\/p>\n

According to Runefelt\u2019s chart<\/a>, the cryptocurrency formed a bullish flag pattern after hitting its two-month high. Since then, LTC has hovered between the upper and lower boundary, bouncing once before from the support line toward the pattern\u2019s resistance line.<\/p>\n

Earlier this week, Litecoin bounced again from the support after touching the $92 level, which led the analyst to suggest it has \u201cevery chance to break out of this bullish flag to the upside.\u201d<\/p>\n

On Friday, the altcoin jumped 11% from the pattern lows, briefly breaking out and hitting the $102 mark before retracing to the $96 mark. The cryptocurrency now hovers between the $98-$99 levels, just 1% below the pattern\u2019s upper boundary.<\/p>\n

A surge above this level to confirm the breakout could set the stage for the pattern\u2019s $117.5 target and mark a significant push toward a key horizontal level.<\/p>\n

LTC Preparing For Rally To $150?<\/h2>\n

Analyst Rekt Capital pointed out that Litecoin needs a Monthly Close above its key resistance level to target the $150 mark and above. He highlighted the $110-$125 horizontal level, explaining that LTC \u201cspends most of its time below it and very little time comparatively beyond it.\u201d<\/p>\n

The analyst noted that since 2019, the rejection from this resistance level has been getting \u201cprogressively weaker over time to the point where only a couple of months ago, LTC tried to retest this region as support\u201d during the early 2025 rally.<\/p>\n

Despite failing to reclaim<\/a> this level, this could suggest that the resistance is \u201cstruggling to hold price down,\u201d which is why the next breakout above this area could signal that \u201cthe chances of a successful retest are high.\u201d<\/p>\n

Moreover, the weakening of the resistance could be partly attributed to its multi-year Marco Higher Low, as Litecoin has bounced from the ascending trendline toward this resistance each time it has been retested.<\/p>\n

Based on this, the analyst considers that a Monthly Close above the key horizontal level, followed by a retest to confirm the breakout, would give the necessary strength for a 30% rally above the $150 mark for the first time since 2021.<\/p>\n

As of this writing, Litecoin trades at $98.60, a 2.7% decline in the weekly timeframe.<\/p>","protected":false},"excerpt":{"rendered":"

As Litecoin (LTC) tries to break out of a bullish pattern, an analyst suggests that a monthly close above its key horizontal zone could propel the price to levels not seen since the 2021 bull run. Litecoin Attempting Key Breakout Litecoin has seen a remarkable 63% rally from April\u2019s lows over the past month and […]<\/p>\n","protected":false},"author":0,"featured_media":68821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-68820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/68820"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68820"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/68820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/68821"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}