Litecoin Targets Rally as Key Support at $94.26 Holds Firm 

• Litecoin found strong support at $94.26, forming a base for a possible upward move.
• The falling wedge pattern suggests Litecoin could break out toward $120 soon.
• Sustaining the above support is key for LTC to retest December highs near $160.

Litecoin has found stability at the support zone of $94.26, sparking optimism for a bullish reversal. According to crypto analyst Rose, the current price structure highlights a falling wedge breakout setup, a pattern known for signaling upward momentum. The token’s ability to maintain this level has set the stage for a strong rally, with the token trading at $101.02 as of February 8, 2025.

The chart illustrates a clear bounce off the support zone, which has historically been a pivot for movements. LTC has been trading within a descending wedge pattern since mid-January 2025, with lower highs and lower lows narrowing toward a breakout point. A breakout from this structure is expected to guide LTC toward higher levels, possibly surpassing the $120 mark in the short term and revisiting the December 2024 highs near $160.

Falling Wedge Indicates Bullish Potential for Litecoin

Rose emphasized that this setup aligns with bullish sentiment, especially as it approaches the conclusion of its consolidation phase. Falling wedges often indicate a reversal, and the price projection from the wedge suggests an impending surge. The proximity of LTC’s current price to the $94.26 support level provides a favorable risk-to-reward scenario for traders anticipating a breakout.

In the coming weeks, LTC’s trajectory will depend on its ability to sustain above $94.26 while building momentum to break out of the wedge. The $110 resistance level will likely be the first test, followed by the critical $120 mark. Should market conditions support this scenario, Litecoin’s bullish case could extend to testing the $160 range.

Litecoin Rally Could Retest $160 Levels

With a well-defined falling wedge and a solid support zone, Litecoin appears poised for a reversal. Rose’s analysis suggests this could begin a rally, giving traders and investors plenty to watch for in the days ahead. However, caution is always advised, as volatility remains a staple of crypto markets.