Litecoin Breakout Succeeds, Fails to Trigger Bears


Key Points:


- Litecoin (LTC) breaks above ascending triangle pattern, suggesting strong bullish momentum
- 12% gain in 30 days, 5% gain in 7 days, with trading volume up 16%
- Exchange inflow data shows sellers absent, indicating confidence in uptrend
- Technical indicators (MACD, RSI) flip bullish


Current Trends:


- LTC trading at $69, approaching high liquidity zone above $70
- Funding Rates predominantly positive, indicating traders are long
- Buyers overwhelming sellers, with rising interest in LTC


Outlook:


- Next target: 200-day SMA at $76
- Potential price volatility if LTC enters high liquidity zone
- Continued bullish momentum dependent on sustained buying pressure.


Indicators:


- MACD histogram bars flipped green, indicating strong uptrend
- RSI line at 63, showing buyer dominance
- LTC above 100-day SMA, strengthening bullish case.