Litecoin price is nearing strong resistance at $135–$140, and a rejection could send it tumbling as low as $50.
Summary
- Litecoin price remains in a medium-term uptrend within a rising channel but risks forming a bearish double-top if rejected at $135–$140.
- A breakdown below $100 could trigger a 35–40% decline toward $66–$70, with some analysts projecting a drop as low as $50.
- Bullish catalysts, including optimism around Canary Capital’s proposed spot Litecoin ETF, could support further upside if market sentiment aligns.
Litecoin (LTC) price has recently validated its ascending trendline support near $100 on the weekly chart, reaffirming the structure of its ongoing medium-term uptrend.
On the weekly timeframe, Litecoin price continues to trade within a rising channel that has guided price action since early March. However, a strong resistance zone between $135 and $140 looms overhead. This area has repeatedly capped upward moves since December of last year, with the most recent rejection occurring in mid-August when price peaked around $134.
If LTC price gets rejected here again, it would form a bearish double-top pattern. The neckline of this potential formation lies around the $100 support level, which also coincides with the ascending trendline that has been supporting the current uptrend. A confirmed breakdown below this neckline would likely trigger a measured move target toward the $66–$70 range, representing a decline of roughly 35–40% from the neckline level.
Litecoin price may slide to $50: analyst
Market analyst Ali Martinez projects an even steeper downside toward $50 if the rejection at the $135–$140 resistance zone is confirmed.
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Author: Darya Nassedkina
