Litecoin (LTC) is showing bullish signals despite recent struggles, with strong support being formed. Analysts suggest that a breakout could push LTC’s price towards significant gains, possibly targeting $230 or even $280 in the near future.

Recent Performance:

- LTC declined 3.82% in the last 24 hours and 5.29% in the past week, currently priced at $123.36.
- Litecoin’s drop followed Donald Trump’s announcement that other altcoins (Solana, Cardano, Ripple) would be part of the U.S. Strategic Crypto Reserve, leaving LTC out.
- Despite short-term losses, analysts believe Litecoin’s technical setup signals potential for future bullish momentum.

Technical Analysis:

Support Formation:

- LTC has formed a triple-bottom pattern, indicating strong buying interest at lower prices.
- Analysts suggest that LTC is testing a new support zone, which could lead to a breakout if it holds.

Resistance Levels:

- A key resistance level is at $137. Crypto analyst CyphrGM believes that a break above $137 could trigger a rally toward $280.
- The price is currently 9.43% away from the $137 resistance, and clearing this level could open up significant gains due to “thin air” above.

Market Sentiment:

- Litecoin has regained a solid base after breaking out of a long-term downtrend, with further gains expected if buying pressure remains strong.
- Market watchers are optimistic, with a possible near-term rally toward $230 or even $280 if the support levels hold and LTC breaks through crucial resistance levels.

Despite recent setbacks, Litecoin (LTC) is building strong support and showing bullish potential. If resistance levels are breached, LTC could see explosive growth, with targets reaching up to $280.
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