Will Litecoin (LTC) Break the $140 Resistance or Face Another Rejection?
Litecoin continues to hover around the $140 resistance, facing strong selling pressure. Investors remain cautious as the price battles key technical lev
By Tylt Editorial Team
Litecoin is struggling to break past the $140 resistance level.
A failure to break above may lead to a pullback towards key EMAs.
Technical indicators suggest a mixed sentiment with neutral momentum.
Litecoin (LTC) is facing a tough battle against the $140 resistance level, indicating strong selling pressure in the market. Despite several attempts, the price has failed to breach this key level, raising concerns about a potential pullback. If the price continues to struggle, investors may witness a downward movement toward the key Exponential Moving Averages (EMAs) for support. A break below the 200-day EMA could signal a deeper correction.
According to TradingView data, Litecoin's year-to-date price has surged by approximately 18.07%. Over the past six months, LTC has gained 86.24%, showcasing strong long-term growth. However, the last month recorded a decline of nearly 6.50%, while the past week saw a modest 3.37% increase.
As per CoinMarketCap (CMC) data, Litecoin is currently trading at $121.79, experiencing an intraday drop of 5%, signaling bearish momentum. The daily trading volume has declined by 50.45%, bringing the volume-to-market cap ratio to 7.55%, which indicates decent liquidity. Litecoin’s market cap stands at $9.2 billion, with a 24-hour trading volume of $691.93 million.
The ongoing battle between buyers and sellers continues, as bulls attempt to push the price beyond resistance while bears work to maintain control. If LTC successfully breaks above the $140 mark, it could initiate a fresh bullish rally. On the other hand, a failure to do so might lead to further downside risks.
Technical indicators present a mixed picture. The MACD indicator is currently showing a bearish crossover, moving toward the median line with a red histogram. Meanwhile, the Relative Strength Index (RSI) stands at 49.70, suggesting a neutral stance. The trading view technical summary also reflects neutrality, with 7 indicators leaning toward sell, 10 in neutral territory, and 9 favoring buy.
Despite the short-term struggle, LTC remains above the 50-day and 200-day EMAs, indicating that buyers still have some control. If Litecoin can gain enough momentum to break above $140, a strong rally could follow. Conversely, a dip below the 50-day EMA may lead to further declines, reinforcing the bearish outlook.
