Litecoin maintains its rising trend line, aiming for a $135 breakout.

Litecoin (LTC) is firmly maintaining its upward trend line and sustaining bullish momentum. It is trading above the demand zone of $112 to $115, and buyers continue to uphold the crucial support level. The recent target is around $120 to $125, and if this range is broken, the long-awaited path to the $135 mark will be opened.

Technical indicators for Litecoin show a bullish scenario

According to a recent post by the cryptocurrency market analysis group Alpha Crypto Signal on X, LTC shows a solid and healthy structure, suggesting a favorable opportunity for long positions. The analysis indicates that LTC is firmly maintaining an upward trend line and is retesting the demand zone of $112 to $115, where buying pressure is expected to increase.

This analysis highlights that LTC is positioned just above the 9-day exponential moving average (EMA) at $112.68 and just below the 50-day simple moving average (SMA) at $115.25. These moving averages serve as dynamic support, providing a solid foundation for the price.

The concentration of this technical factor, which combines horizontal demand blocks with support from EMA and SMA, adds significant weight to the bullish case for Litecoin.

$112 support maintains bullish bias

According to Alpha Crypto Signal, as long as Litecoin maintains its position above the $112 mark, the bullish outlook will continue. This support level is considered a critical threshold, and maintaining it indicates a favorable market structure for an upward trend towards $120 to $125.

Furthermore, if the resistance zone of $120 to $125 is clearly broken, it could open the way for a larger rally. This would pave the way to the next major price target of above $135, indicating strong momentum for the cryptocurrency.

However, if there is a development below the $110 support level, this bullish scenario will be at risk. Falling below this point not only threatens the current trend line support but also raises questions about the overall bullish structure, potentially indicating a shift in momentum towards a decline.

Disclaimer: For informational purposes only. Past performance is not indicative of future results.

I have been observing the recent cryptocurrency market, and I am somewhat skeptical about this movement of Litecoin. While it is certainly forming a good technical shape, like other altcoins, it tends to be greatly influenced by Bitcoin's price movements. Particularly now, as the entire market is shaken by the political situation and interest rate policies in the United States, I think it is hard to expect a strong rise on its own. To aim for $135, it first needs to break through the $120 wall, but strong selling pressure is expected there.