Dogecoin News Today: Litecoin Faces Fourth Test at $138–$140 Resistance Amid Volatile Price Action

Litecoin (LTC) is now facing its fourth test at a key resistance level of $138–$140, following three prior failed breakout attempts since December 2024. Analyst Ali Martinez highlighted that each previous attempt from this area was met with rejection, sending prices lower afterward and solidifying the zone as a strong resistance [1]. The fourth test comes as LTC trades near $129.91, with a successful move above $140 potentially signaling a shift in the technical outlook and opening the door to a target of $160. Conversely, another failure may result in a retest of key support levels, first at $120 and then $110, both of which have historically acted as pivotal zones during previous price corrections [2].

The recent price action shows Litecoin has surged more than 30% from below $100 in early July, though it has since pulled back, recording a 7% drop over the last 24 hours. As of the latest report, LTC was trading at $122.19, with a 1% gain over the past week. This volatility reflects the broader crypto market’s unpredictable nature, especially as Litecoin outperformed major tech stocks in one-month returns. According to data from Post Santolita, LTC gained 38% in a month, outpacing Apple’s 12% and other large-cap equities by a significant margin [3]. This performance has drawn attention from both crypto traders and broader market watchers, emphasizing the aggressive nature of crypto’s short-term price movements.

Technical analysis from TradingView suggests that if LTC fails to break above the current downtrend line, the price could retreat to test support levels between $0.66 and $0.60 in fiat terms. This scenario underscores the high volatility and uncertainty surrounding LTC’s near-term direction. The pattern is not unique to Litecoin; similar triple rejection setups have been observed in other assets such as Bitcoin and GBP/USD, where price action has shown mixed signals of bullish momentum and resistance breakouts [4]. In those cases, the key has been the confirmation of a breakout or breakdown through retest validation, a principle that could apply to LTC as well.

The broader cryptocurrency market remains in a state of consolidation, with several assets—including Dogecoin and XRP—showing signs of compressed momentum and potential breakout setups. This environment increases the importance of key resistance and support levels in LTC’s chart. Traders are advised to closely watch the next few trading sessions for a clear direction, as a sustained breakout could unlock significant upside, while a breakdown might lead to further downward correction.

As Litecoin approaches what could be a defining moment in its recent chart pattern, investors and traders are on high alert. The coming days will be critical in determining whether LTC can break free from its recent constraints or face another reversal. Market participants remain cautious, aware that the price is in a high-stakes test that could signal a major turning point.

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Source:

[1] title: Litecoin Fear and Greed Index | Multiple Timeframes

url: https://cfgi.io/litecoin-fear-greed-index/

[2] title: Page 9 | Chart Patterns — Trading Ideas on ...

url: https://www.tradingview.com/ideas/chartpattern/page-9/

[3] title: Dogecoin price compresses toward breakout as market ...

url: https://tradersunion.com/news/cryptocurrency-news/show/433840-dogecoin-price-compresses/

[4] title: GBP/USD: Bullish Momentum Building Above Key Moving ...

url: https://www.investing.com/analysis/gbpusd-bullish-momentum-building-above-key-moving-averages-200665229