Litecoin Shows Bullish Signs Despite 5% Drop: Will a Break Above $105 Spark a Major Rally?
Litecoin (LTC) has recently caught the eye of market observers as its 2M Bollinger Band Width has shrunk to unprecedented lows, indicating extremely limited price movement and the possibility of an upcoming bullish shift. Certified market analyst Tony Severino brought attention to this in a recent X post, explaining that the narrowing bands point to a "Hammer" candlestick pattern forming above the Bollinger Band midpoint, which strengthens the positive technical outlook for the altcoin, as reported by a
Technical signals further support the bullish sentiment. Litecoin's price has neared the crucial $105 mark, where an inverted head and shoulders—a well-known reversal indicator—appears close to breaking out. Should this pattern be validated, LTC could see a 30% surge toward $137, according to a
Although current attention is on technical formations, broader forecasts from analysts are even more optimistic. Crypto analyst Bitcoinsensus believes that
Litecoin's recent price movements have sent mixed signals. As of this writing, LTC is trading at $94, down more than 5% over the past 24 hours, according to CoinMarketCap. This decline comes despite a 25% jump in trading volume to $775 million, reflecting heightened interest amid broader crypto market swings. The Supertrend indicator still shows a red downtrend, pointing to ongoing selling, but the Average Directional Index (ADX) at 29.95 indicates strengthening trend momentum, as long as volume supports a breakout above $105.
The altcoin's underlying fundamentals also contribute to its bullish case. The addition of MimbleWimble Extension Blocks (MWEB) has improved Litecoin's privacy features, making it more attractive for payments. These technical upgrades, along with a more mature ecosystem and positive regulatory developments from its ETF listing, position LTC to benefit from increased institutional interest.
