Litecoin Price Prediction: LTC traders closely watch the $130 level, the possibility of breaking out of the long-term Sideways phase intensifies.

Litecoin (LTC) traders are starting to follow the $130 mark, viewing it as the next significant test. Today (23) during the European morning session, LTC is reported at $117.59, with a daily pump of 1.35%. After experiencing years of long-term resistance, LTC is now showing signs of a breakout, and analysts are looking at short-term and long-term charts for clues.

Crypto influencer LitecoinRicky posted a tweet on X (formerly Twitter): "Lift the anchor, we are about to leave the shore." This indicates that LTC may finally be poised to break out of its long-term consolidation phase. This aligns with the situation on the chart, where the LTC price has broken through a key trend line that has been suppressing its rise since 2017.

LTC breaks through long-term trend line

From a macro perspective, LTC has been forming a symmetrical triangle for six years. This means it has been creating new highs and new lows, gradually approaching the breakout point. Now, the LTC price has slightly broken through the top of the triangle for the first time in a while.

LTC is currently trading around $114, slightly above that resistance. If this breakout continues, analysts indicate that the levels to follow are $120 and $130. A similar situation occurred at the beginning of 2021, when it rebounded strongly to $200 after the breakout.

(Source: Trading View)

LTC MACD signal supports short-term trend

Zooming into the 1-hour chart, momentum is rapidly recovering. The MACD indicator has just shown a bullish crossover, with the MACD line crossing above the signal line. This is usually a signal for buyers to enter.

The LTC price has hovered between 112 and 118 dollars for about a day, but it is now on the rise. Cryptocurrency analyst NumberOfWealth points out that this MACD signal indicates that LTC may pump towards 130 dollars in the "next few hours."

Key Levels of Interest for LTC

The support level around 112 USD remains strong. Over the past few days, LTC has bounced back from this position multiple times. From both a technical and psychological perspective, 130 USD is gradually becoming the next key resistance level.

Traders should pay close attention. The $130 level is a key resistance point, and the LTC price needs to break through clearly with strong trading volume to confirm the pump. If the price stagnates here, a pullback to $118 in the short term would not be surprising.