Litecoin price nears key weekly resistance with downside risk toward $50 if rejected
Litecoin price is nearing strong resistance at $135–$140, and a rejection could send it tumbling as low as $50.
- 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.
Source: TradingView
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.
Despite the strong overhead resistance looming, LTC price may still have room to extend its uptrend, particularly if broader market sentiment and fundamental catalysts align in its favor.
One key bullish factor is the growing anticipation surrounding Canary Capital ’s proposed spot Litecoin ETF . The recent amendment to its filing has reignited optimism that regulatory approval could arrive once the SEC resumes normal operations following the government shutdown .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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