Litecoin Price Poised for 20% Surge as Triple Bottom Pattern Emerges

Litecoin (LTC) is gaining attention as technical indicators suggest a potential shift in its price momentum. Many traders are observing a triple bottom pattern on the LTC price chart, which could signal the end of the current downtrend. This pattern is characterized by three rounded lows, each near the $77–78 level, indicating that buyers have consistently defended the price at this support zone.

Top analyst Santolita highlighted this pattern in a tweet, describing it as “loud” and suggesting that a breakout above $100 is inevitable. This tweet has sparked discussions among traders about the possibility of a significant price increase for LTC. The symmetry of the lows in the Litecoin chart adds to the reliability of this pattern, with each low evenly spaced over time. This repetitive support suggests that market participants see value at these levels, which could serve as a launchpad for a rally if the price moves above the resistance.

A dotted line at the $88 level on the LTC chart marks the neckline of the triple bottom formation. A firm move above this level could indicate the start of a bullish trend. The current price of LTC is $82.97, which is below the resistance but above the established support zone. The third bottom price action shows a bounce, but the consolidation under resistance indicates that traders are awaiting confirmation before investing more capital. The declining trendline that connects recent highs also intersects close to the neckline, making the $88 breakdown level crucial.

If the LTC price surpasses the neckline, the analysis projects an upside target of approximately $100 to $102. This target is calculated using the measured move method, which adds the vertical distance from the support to the neckline to the breakout point. The chart’s timeline extends into mid-July, aligning with the “imminent” timeframe mentioned in Santolita’s tweet. Persistent upward pressure is expected if LTC breaks through resistance, with further resistance anticipated near psychological areas at $90, $95, and $100. Increased volume trading would likely confirm the breakout, indicating market conviction in the direction of the move.

Santolita’s tweet has generated discussions across social media, with traders sharing charts and opinions about the pattern’s potential outcome. The phrase “lazy money” used in the tweet refers to market participants who may be caught off guard by a swift price move. The prediction of an inevitable breakout has increased focus on LTC price action in the short term. Analysts note that a breakout above the $88 neckline could bring on heightened buying, especially if sidelined investors move in to buy in anticipation of the expected move towards $100. For now, the Litecoin price remains within its established support and resistance boundaries.