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The Litecoin price dropped 3% in the last 24 hours to trade at $129.32 as of 02:31 a.m. EST on trading volume that dropped 4% to $1.5 billion.
Litecoin Price Analysis: Breakout Incoming?
The LTC price has been trading in an overall uptrend, with higher highs and higher lows forming since late 2024. The chart displays a consolidation phase pattern, a bullish continuation pattern that often signals a breakout to higher levels.
Currently, the Litecoin price is testing the resistance around $136, which has been a major hurdle in previous attempts to break out, according to GeckoTerminal data.
A consolidation phase occurred in the $93-$136 range, supported by a strong demand zone (marked in purple on the chart) around $101.
The price of Litecoin is now pushing higher, and a confirmed breakout above resistance could trigger a sharp upward move.
The 50-day Simple Moving Average (SMA) at $115.33 is above the 200-day SMA at $88.23, confirming a bullish trend. Meanwhile, the price of LTC is well above both SMAs, showing strong momentum.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), a bullish crossover that indicates upward momentum. The histogram shows positive momentum as well, suggesting continued buying pressure.
LTC Price Prediction: Is $200 The Next Target?
With strong technical indicators and a bullish pattern forming, Litecoin appears poised for a breakout.
If the LTC price breaks above the $140 resistance, it could quickly rally toward $160-$180, with $200 as a potential long-term target.
However, failure to break resistance may result in a pullback toward $101, which has acted as strong support. Traders should watch volume levels and confirmation of a breakout before making decisions.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) for potential Bitcoin airdrops. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Closes On The $3 Million Mark
BTC Bull Token has gained instant traction in the crypto space, having raised over $2.4 million in slightly more than a week of its launch.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way. Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be ”a huge BTCBULL airdrop” for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
In addition to BTC airdrops, the team will also carry out BTCBULL token burns, permanently removing a portion of the total supply. The aim is to follow in Bitcoin’s footsteps and increase scarcity and value.
Bitcoin Bull token holders can also earn passively by staking their tokens for a 176% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.00237 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in less than 3 days to secure the best deal.
Check out BTC Bull Token here.
Related News:
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