Litecoin (LTC) Shows Minor Gains - Charts Signal Final Pullback Before $97 Breakout

Litecoin's subtle upward movement masks what technical analysts are calling the last dip before a major price surge.

The Calm Before the Storm

LTC's modest gains tell only half the story—chart patterns suggest one final downward correction is imminent before the cryptocurrency challenges the $97 resistance level. This temporary retreat could create the perfect entry point for savvy investors.

Technical Indicators Don't Lie

Market momentum and volume analysis both point toward this being the last buying opportunity before LTC makes its run. The current slight uptick appears to be setting the stage for what technical traders call a 'springboard' pattern.

Of course, in crypto markets, sometimes the only thing more volatile than the prices are the analysts predicting them—but the charts are speaking loud and clear this time.

Litecoin Could Dip Before Rally

A crypto analyst, More Crypto Online, pointed out that a potential next movement would be a try by Litecoin to increase its prices, with a target of a significant area of resistance located within the range of $90.29-$97.33.

This area of resistance has previously capped prices; breaking past it will be a strong indicator of increased strength within the market for the coin, Litecoin.

However, according to the analyst, the market structure is still an indication of one more pull-back being a possibility. The A-B-C correction pattern seen in the Litecoins is still being followed, and currently, the rise is a wave 4 correction within this A-B-C pattern. A full C wave will require five legs, and it appears waves 1, 2, and 3 may already be completed.

The resistance level that Litecoin is currently trying to reach is in line with the Fibonacci levels of 38.2% and 61.8%. This level is closely monitored. Any further breakdown above this level will trigger a change in favor of the bullish movement. Otherwise, a further drop is anticipated in the market, according to analysts.

LTC Shows Weak Signs but Holding Support

The RSI is seen at 42.84, indicating a weak force of purchases, and the Signal Line is 50.35, remaining above it, thus pressuring the prices. The MA Ribbon exhibits a mixed trend, with the shorter Moving Averages being around 89.85 and 101.33, and the longer ribbon is seen around 107.54 and 84.19. The value of $86.55 is seen below the midpoint ribbon, indicating a conservative market atmosphere.

The MACD is currently at –3.18, which is below the signal line of –2.12, indicating that bears are still present in the market. The histogram is colored red, implying that the bears, although with reduced pressure, continue controlling the market. Before the MACD indicator moves up, a weak market momentum is expected in the LTC market.