Litecoin (LTC) Gains Momentum: Technical Signals Point to a $120 Upside Target

Litecoin (LTC) is showing a positive price trajectory as buying interest strengthens. Over the last 24 hours, LTC has risen by nearly 3.36%. Weekly, the asset has gained around 3.65%, reflecting steady upside momentum and healthier market sentiment rather than short-term speculative price action at current levels.

At the time of writing, LTC is trading at $80.09. The 24-hour trading volume stands at approximately $304.75 million, up 12.02%. Market capitalization is around $6.14 billion, marking a 3.32% increase, which signals improving liquidity and sustained participation across the broader crypto market.

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Price Action Reflects Cautious Stability

LTC on the 2-day chart remains in a clear bearish structure. Price has printed consistent lower highs and lower lows since the October peak near $120. The SMA ribbon (20/50/80/100) is fully above price and sloping down, confirming trend weakness. Current action reflects stabilization, not reversal, within a broader downtrend.

Price has just bounced from the lower Bollinger Bands at $73-$75, suggesting mean reversion. Volatility has been decreasing because candle sizes are decreasing, implying lower selling momentum. Nonetheless, price is still below the midpoint and moving averages, suggesting that this bounce lacks momentum. This suggests that it could be consolidating or experiencing a corrective rally.

Major support sits at $73-$75, and there is potential downside risk below this level. The first barrier is at $80-$82, and a stronger barrier is a move below $86-$87 (50-day SMA). Strong support is also between $91-$100, and there is a strong supply above. There is a macro-level target at $104-$120 if the trend changes.

Momentum Near Neutral Signals Market Balance

The RSI (14) is currently around the 44 area, which is below 50. This indicates a bearish momentum. On the other hand, the RSI is currently recovering from the recent low points at around mid-30s, suggesting a possible easing of selling momentum. The RSI is currently at a neutral area, but it is likely to switch to a possible buying momentum if buying power continues to build up.

The MACD remains in the negative region, and this indicates a continuation of the overall bearish trend. The histogram has turned slightly positive, and the MACD is approaching the signal line. This indicates a weakening in the bearish trend and an early sign of a potential bullish reversal.

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