- Litecoin is trading around $85 within a multi-year symmetrical triangle showing potential for a breakout as consolidation nears the apex level.
- MWEB balances have risen to 347,396 LTC, a sign of growing adoption and sustained activity within Litecoin’s privacy-focused blockchain ecosystem.
- Comparative models show Litecoin’s network value rising faster than Bitcoin’s, suggesting a potential structural rerating if ETF catalysts align.
Litecoin is trading around $85 approaching an important technical phase inside a multi-year symmetrical triangle that has been forming since mid-2021. Analysts say the tightening range is setting up conditions for a potential strong move.
Symmetrical Triangle Formation
Litecoin’s weekly chart shows price compressing within the symmetrical triangle, bounded by descending resistance and ascending support. The formation has repeatedly respected both trendlines, indicating consolidation over an extended period.
This setup points to a potential expansion in volatility once the apex nears.Jonathan Carter commented that triangle compression equates to loaded momentum, citing target levels at $115, $140, $180, and $285.
The price has been hovering above the long-term ascending support, with the 50-week moving average near $101 acting as resistance.Volume has decreased steadily during this consolidation phase and has been consistent with the triangle pattern.
The Relative Strength Index (RSI) is in the neutral zone neither overbought nor oversold. These factors suggest room exists for a decisive breakout or breakdown.
Rising Adoption in MWEB
Litecoin’s MimbleWimble Extension Block (MWEB) balance has shown substantial growth over the past year. According to a report by Lite Strategy, the balance has surged to 347,396 LTC, which is worth $29 million at the current price.
Growth was slow at first but it picked up gradually and the balance jumped from 150,000 LTC to more than 300,000 LTC in just a few weeks. This indicates strong demand for privacy-based transactions.
The MWEB total has stayed a little above 350,000 LTC since then, which shows steady interest in using shielded transfers and continued activity across Litecoin’s on-chain network.
Litecoin Relative to Bitcoin
Long-term models comparing Litecoin and Bitcoin suggest potential for structural price adjustments.@MASTERBTCLTC noted that Bitcoin may remain in a $50,000–$100,000 range, which could allow Litecoin to align with its network fundamentals.
Charts overlay Bitcoin and Litecoin valuations based on active addresses and transaction activity. Bitcoin’s ETF approval in January 2024 marked a significant price deviation, while Litecoin’s ETF approval has occurred more recently, providing a potential rerating opportunity.
Litecoin’s network value model shows a rising slope relative to market cap, while price remains compressed within a wide ascending channel. Analysts indicate that this setup could lead to accelerated price movements if catalysts align with fundamentals.
