Litecoin Consolidates Near Key Support as Traders Await Breakout Towards $110

Litecoin (LTC) is currently trading above the $100 support level, with technical analysis indicating a critical juncture in its price action. The asset is approaching a multi-year symmetrical triangle pattern that has been forming since 2018, suggesting mounting pressure for a significant directional move. Analyst Captain Faibik highlighted this pattern on social media, noting that a breakout could target prices above $630, while resistance near the $130–$145 corridor remains unbroken.

Short-term Elliott Wave analysis shows a completed five-wave impulse from early November, with Wave (iii) exhibiting strong buying momentum and Wave (iv) consolidating sideways. Recent 4-hour charts indicate renewed upward energy, but the price must hold above key support levels to avoid a pullback. Market capitalization has climbed from below $7.4 billion to over $8.2 billion, reflecting steady inflows rather than volatile surges.

Meanwhile, LTC faces immediate resistance at $101.50, with a break above this level potentially triggering a move towards $112. Support is firm around $96, but a drop below $91.50 could signal weakness. The broader trend remains influenced by Bitcoin, which guides Litecoin's direction. Traders are closely watching for a clean breakout or breakdown from this tight range, with weekend price action likely to determine the next significant move.