Litecoin price has been one of the top trending coins so far this year. Its price is up over 110% compared to the same time last year.
In the past 24 hours, it has jumped almost 11% as the whole crypto market rallied. The latest charts show that LTC price has more room for a surge.
Some numbers suggest the next big target could be $154. The following charts might have the details
Litecoin Price Is Moving in an Upward Channel
Right now, Litecoin’s price is moving between two rising straight lines on the chart.
This is called an ascending parallel channel. Ascending means the channel is going up over time, and parallel means both lines are moving in the same direction, with equal distance between them.
This pattern is usually bullish, meaning prices often keep going up until the channel is broken.
Litecoin is now close to the upper line of this channel, near $131. If it can keep moving higher, the next big resistance (price barrier) is around $154, which is about 18% above the current price.
If the Litecoin price falls below $122, the bullish idea becomes weaker. The next support (strong price floor) lies near $106.
As Litecoin is trending up, the trend-based Fibonacci extension indicator is the best tool to chart potential targets.
This shows that a move above the upper trendline of the mentioned channel could push the Litecoin price to $154 in virtually no time.
RSI Shows a Hidden Bullish Signal for Litecoin Price But Most Ignore This
The Relative Strength Index (RSI) is a number between 0 and 100 that tells how strong or weak the price movement is.
- Above 70 means the coin might be overbought (too high, could slow down).
- Below 30 means the coin might be oversold (too low, could bounce up).
Since August 5, Litecoin’s price has made higher lows (each dip is higher than the last), but the RSI has made lower lows (the RSI number has gone down).
This is called a hidden bullish divergence. It often means the uptrend is still strong, even if the RSI looks weaker at first.
Right now, the RSI is near 66. This is below the overbought zone, meaning there’s still room for Litecoin price to move higher before traders might start offloading.
Retail Is Removing Litecoin (LTC) From Exchanges
On-chain data shows that more Litecoin is leaving exchanges, a bullish sign for LTC price.
This is called negative net flow. On August 13 alone, about $2 million worth of LTC moved out of exchanges.
When coins leave exchanges, it usually means people are putting them in private wallets instead of selling. This is often a sign of accumulation, meaning big holders (whales) are keeping coins for the future.
Adding to this bullish case is the increasing outflow amid a price rally. In most cases, when the price rallies, people look to sell, moving tokens into exchanges. From Litecoin’s perspective, the opposite is happening.
Buying Pressure Is Quietly Building
The On-Balance Volume (OBV) indicator adds up trading volume to see if more money is flowing in or out. In Litecoin’s case, OBV has been moving higher, which means buying volume is stronger than selling volume.
When OBV rises along with price, it supports the idea that buyers are in control and the price could continue moving up.
However, the buyers might want to wait for the higher high OBV confirmation. That would validate the strong price action completely.
Even though the setup looks bullish, traders should watch the $122 level closely for potential future movements of LTC price.
If Litecoin price closes below this level, it would break the rising channel and could lead to a drop toward $106.
