After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
The post After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity? appeared on BitcoinEthereumNews.com.
The Litecoin price has shown impressive resilience after recording a sharp 17% rebound in just one day. The LTC price has regained investors’ attention as it hovers near a key resistance zone that could define its next big move. This renewed strength comes amid profit-taking pressure and cautious optimism among participants. The focus now rests on whether Litecoin can sustain this short-term recovery and confirm a lasting breakout. With technical patterns tightening, the upcoming sessions will reveal if buyers truly have the upper hand. Litecoin Price Action Near Breakout The LTC price is approaching a critical turning point after rebounding sharply from its lower support line. The current Litecoin value sits at $101.02, just under the decisive $102 resistance level that could define Litecoin’s near-term trajectory. A breakout above this barrier would confirm a bullish reversal, targeting a potential rise toward $130 in the coming weeks. This move aligns with the structure of a falling wedge pattern visible on the chart, where the price has been compressing for several months. Failure to close above $102, however, could trigger a retest of lower support around $85 before a renewed push higher. Overall, the technical landscape suggests that a confirmed close beyond resistance could reestablish a strong upward trend as Litecoin price prepares for its next expansion phase. LTC/USDT 1-Day Chart (Source: TradingView) DMI And MACD Indicators Reinforce Bullish Outlook The DMI indicator highlights growing strength in Litecoin’s long-term price outlook, signaling a potential continuation of the recent uptrend. The +DI line currently sits at 24.76, while the -DI line trails lower at 21.92, suggesting buyers are steadily regaining control. Meanwhile, the ADX reading at 26.41 indicates that the developing trend is gaining traction and could intensify with a sustained close above the $102 level. Complementing this, the MACD line has crossed…
