Litecoin (LTC) has struggled in the current crypto market cycle, showing late momentum only in November 2024. However, this surge was short-lived, as LTC peaked in December before declining and creating a lower high in January. Now, with the price closing below $100 in March, concerns over its long-term bullish potential are mounting.
Bearish Signals Confirm Breakdown
For nearly three years, Litecoin has been trading within an ascending parallel channel. However, repeated breakout attempts in the past four months failed, and the price eventually fell below the crucial $100 support level.
Last week’s close below this threshold confirmed the bearish trend, as LTC also dipped under the midline of the ascending channel. Technical indicators further support this downtrend—Litecoin’s Relative Strength Index (RSI) has dropped below 50, signaling weakening momentum, while the Moving Average Convergence/Divergence (MACD) registered a bearish crossover.
With these signals in play, the next significant support level lies at $65, aligning with the lower boundary of the channel. Since ascending channels typically suggest corrective movements, a further decline appears likely.
Can Litecoin Rebound in 2025?
Looking ahead, Litecoin’s price action aligns with a long-term symmetrical triangle pattern that has persisted since its all-time high in 2018. If this pattern holds, LTC is currently in wave E, which could conclude near $60—matching both the triangle’s and the channel’s support trendline.
If this support holds and Litecoin stages a recovery, a breakout could propel the price toward $598, corresponding with the 1.61 external Fibonacci retracement level. However, this bullish outlook may take time to materialize, as the triangle’s support and resistance trend lines converge in 2027, potentially leading to extended consolidation.
Also Read: Litecoin Faces Bearish Breakdown: Will LTC Drop to $65 After Trump’s Crypto Snub?
More Downside Ahead?
Despite potential long-term upside, Litecoin remains vulnerable in the short term. A decisive break below $60 could invalidate bullish projections, opening the door for a drop to the next key support at $38. With momentum shifting bearish, LTC investors must closely monitor price movements to assess the next crucial turning point.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
