<em><strong>The LTC price action shows a bull cycle within a rising wedge pattern teasing a bull run above $65 to reach the $75 mark.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>Litecoin (LTC) prices have increased by 45% in the last two months.</li>
 	<li>The bull cycle within the rising wedge challenges the 100-day SMA.</li>
 	<li>With a market cap of $4.35 billion, the intraday trading volume of Litecoin has increased by 6.15% to reach $469 million.</li>
</ul>
<h3>Past Performance of LTC</h3>
The LTC price action shows a bullish reversal with lower price rejection near the $40 mark to form a rising wedge pattern. The continuation pattern accounts for a price jump of 50% in the last months and a jump above $60. The bullish reversal from the support trendline currently teases a price jump above the 100-day SMA.

<img src="https://s3.tradingview.com/snapshots/u/UEJPWQ7c.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/UEJPWQ7c/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>LTC Technical Analysis</h2>
The LTC price action saw a 3.13% jump today to break above the $60 mark teasing a bullish trend to the resistance trendline. The <a href="https://www.cryptoknowmics.com/news/why-is-it-important-for-traders-to-understand-crypto-reset-time/" target="_blank" rel="noopener">traders</a> can expect the bullish breakout rally to reach the $75 mark.

The RSI slope shows a bullish reversal from the halfway line leading to a spike within the nearly overbought zone. Hence, the technical indicator reflects a rise in the underlying bullishness, increasing the uptrend possibility to the $75 mark.

The MACD indicator shows the fast and slow lines regaining the bullish spread after the recent merger as the bullish histogram spikes. Hence, the increasing likelihood of a continuation in the MACD and signal lines teases a price jump.

Hence, the technical indicators have an optimistic standpoint, suggesting a bullish breakout.

In a nutshell, the LTC technical analysis showcases an increase in buying pressure within the rising wedge.
<h2>Upcoming Trend</h2>
If the LTC price breaks above the resistance trendline, the breakout rally might exceed the $75 mark. Traders can expect the entended uptrend to reach the psychological mark of $100.

However, if the buyers fail to hold the support trendline, a bearish downfall will test the $50 mark.

Resistance Levels: $65 and $75

Support Levels: $50 and $40

LTC Technical Analysis: Will Buyers Flourish Within Rising Wedge?

The LTC technical analysis shows a bull cycle within a rising wedge pattern teasing a bull run above $65 to reach the $75 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

LTC Technical Analysis: Will Buyers Flourish Within Rising Wedge?

Top Picks