The post Litecoin’s Bullish Momentum: Can it Break Resistance to Reach $170? appeared on BitcoinEthereumNews.com.

Litecoin’s recent price movements reflect a growing bullish sentiment amid strong resistance testing, crucial for its next trajectory. The altcoin is witnessing a surge in active users and institutional interest, which supports ongoing bullish indicators in the market. As noted by COINOTAG analysts, “The current market structure could propel LTC past $170, assuming positive sentiment holds.” This article examines Litecoin’s technical analysis, on-chain signals, and market sentiment as it approaches key resistance levels, indicating potential growth opportunities. Technical analysis – What’s next after a breakout? Litecoin’s price is currently within a critical consolidation zone, with its upper resistance at $137.83 and lower support at $114.33. The security is inching closer to this resistance level, and a break above $137.83 could catalyze a bullish rally towards a target of $170. However, if it fails to overcome this resistance, Litecoin may retreat to test support at $114.33 or possibly lower to the $98.18 mark. Understanding this resistance is crucial for traders as it signifies the potential for significant market moves. Source: TradingView On-chain signals – Are investors still bullish on Litecoin? The on-chain metrics for Litecoin reinforce this bullish narrative, indicating heightened market demand. The Net Network Growth metric has recently increased by 0.34%, suggesting a rise in new addresses joining the network, a strong sign for sustained investments. Furthermore, a 1.73% increase in large transactions hints at growing interest from institutional players, fortifying the positive outlook around LTC. Additionally, the distribution of LTC across addresses remains decentralized, which typically supports price appreciation. Source: IntoTheBlock MVRV ratio – How much more room for growth does LTC have? The MVRV (Market Value to Realized Value) ratio stands at 0.669, indicating that Litecoin’s market value still has significant room for growth compared to its realized value. This upward trend suggests that investors might view…

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Filed under: News - @ March 2, 2025 1:19 am