So, I’m just sitting here, minding my own business, when I hear about Litecoin surging 9.66%. Great, right? But then what happens? It gets rejected at the $130 resistance level. Classic Litecoin, always the bridesmaid, never the bride. 🙄
- Litecoin almost made it to double digits, but got a big fat “nope” at $130.
- Now we’re looking at a range-bound market, which is like being stuck in a bad sitcom with no plot progression.
- If it holds support, maybe it’ll try again. If not, well, more of the same boring consolidation. Yawn.
After the big rally, Litecoin (LTC) finally hit its technical ceiling near $130. You know, that place where it always seems to get stuck. Despite the rejection, the market still looks bullish with solid support below. The next few days will tell us if LTC is going to take a nap or make another run at it. 🏃♂️💨
Key Technical Points
- Major Resistance: The $130 level is like a brick wall for Litecoin, keeping it from breaking free.
- Support Zone: The point of control and Fibonacci confluence area are holding it together, like a safety net for acrobats.
- Market Structure: Still bullish, with higher highs and higher lows. It’s like watching a really slow, but steady, march forward.
Litecoin’s recent move has brought it back into the spotlight, climbing nearly 10% in a strong impulsive leg. But, surprise, surprise, it tested the $130 resistance level and got rejected. Again. Not exactly shocking, but it’s now in a potential range, digesting its recent gains like a Thanksgiving feast. 🦃
This range seems to be forming between the $130 resistance and the point of control, which is near a Fibonacci confluence zone. If this support holds, it might form a higher low and give Litecoin another shot at breaking through. But if it doesn’t, well, we’re back to square one. 🔄
From a volume profile perspective, there’s clear evidence of increasing volume, which is usually a good sign. As long as the point of control isn’t breached, the structure remains intact, suggesting accumulation rather than distribution. It’s like a game of hot potato, but with money. 💰
The market structure continues to show higher highs and higher lows, reinforcing the bullish trend. The current pullback is a healthy correction, especially if it confirms support above major volume levels. If Litecoin can reclaim the $130 swing high, the next leg of momentum is likely to pick up speed, thanks to the liquidity above that level. 🚀
The value area high is acting as a soft barrier. Past interactions with this level have led to rejections back to the point of control. This time, if the point of control holds, the bulls might get their second wind and make another attempt at the high time frame resistance. 🐻➡️🐂
Overall, the price action remains technically bullish, and the current pullback is testing market strength. Traders should keep a close eye on the point of control for any signs of life. 🕵️♂️👀
What to Expect in the Coming Price Action
If Litecoin holds the point of control, expect another push toward $130 and beyond. If it fails, we might see more of the same range-bound action. For now, the market structure is still bullish, so let’s see if it can keep the momentum going. 🤞
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2025-08-05 17:51