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According to a recent post by CRYPTOWZRD, Litecoin’s latest daily close showed signs of indecision, reflecting a pause in market momentum. However, attention is now shifting to the LTC/BTC pair, which appears to be on the verge of a falling wedge breakout — a technical setup that could pave the way for a strong upward move in Litecoin’s price once confirmed.
Falling Wedge Pattern Signals Imminent Breakout
Further expanding on his analysis, CRYPTOWZRD noted that both LTC and LTCBTC ended the day with indecisive daily candles, marking a period of market uncertainty and hesitation among traders. Despite the lack of clear direction in the daily close, the current chart structure still holds promising potential for bullish movement, provided key technical patterns confirm their breakout signals.
According to the analyst, the LTCBTC pair continues to maintain its position within a falling wedge formation. CRYPTOWZRD believes that a decisive breakout from this wedge could occur within the coming week, which may catalyze renewed upward momentum in Litecoin’s price action.
If this bullish scenario plays out as expected, Litecoin could see a push toward the $140 resistance zone, marking a significant rebound from its current position. This level remains an important target for traders watching for confirmation of a sustained uptrend. However, he cautioned that failure to maintain momentum could delay the move, with $112 serving as the main daily support.
CRYPTOWZRD also revealed that his focus will remain on short-term chart developments, particularly intraday setups that could offer scalp trading opportunities while waiting for the larger breakout to unfold.
Litecoin’s Direction Hinges On Key Support And Resistance
The analyst explained that a move above the $123 resistance level on the intraday chart would signal a clear shift into bullish territory. Such a breakout could open the door for further upside momentum and attract renewed buying interest from traders anticipating a continuation of Litecoin’s upward movement.
According to CRYPTOWZRD, once the price secures a solid close above $123, his focus will turn to long positions, with an initial target set at the $134 resistance level. This area serves as a key objective for short-term bulls, as it could confirm Litecoin’s ability to sustain its recent momentum and build a stronger bullish structure on lower timeframes.
However, the analyst also cautioned that a drop below $115.50 would shift market sentiment back into bearish territory. For now, he emphasized the importance of waiting for the market to reveal its next move, as confirmation from price action will determine whether Litecoin continues upward or faces another round of consolidation.
