Litecoin Nears Key Breakout as SuperTrend Buy Signal is Close 

• Litecoin is near a SuperTrend buy signal that could start a strong rally.
• Its price must close above $136.81 this month to confirm the move.
• If confirmed, traders could see LTC push toward higher levels with strong market support.

Litecoin (LTC) would soon send a bullish signal on the monthly SuperTrend after only less than $1. Currently trading at a price of $135.54, LTC has gained 5.87% on the day, testing the very important resistance at $136.81. A confirmed buy signal on this long-term timeframe could shift market sentiment and attract more buyers, potentially setting the stage for a sustained rally. The closing in February will be very important in validating this breakout potential.

SuperTrend Indicator Signals a Possible Shift

SuperTrend shows the high potential for a trend shift and now indicates a bullish turn. Early 2020 was when the last buying signal flashed for buying Litecoin around $40 and turned bullish till it hit a major peak near $400 in 2021. The last sell signal was in 2022, which started the long downtrend below $50, which dragged the asset down to that point. This month, Litecoin would generate its first SuperTrend buy signal in almost four years, thus signaling a potential long-term uptrend if it closes above $136.81.

Litecoin has shown resilience, bouncing from key support at $33.20 in late 2022 and maintaining higher lows ever since. The current structure suggests a gradual recovery, with the next significant resistance sitting around $180. If the bullish SuperTrend confirmation occurs, LTC could target $200 and beyond in the coming months. However, failure to break above $136.81 could lead to consolidation, with support zones at $121.02 and $96.00 acting as key areas to watch.

Investor Sentiment and Market Outlook

Trader Tony “The Bull” Severino highlighted Litecoin’s crucial positioning, stating that the asset is within striking distance of a SuperTrend buy trigger. His analysis has gained traction, with traders closely watching the monthly close to confirm a potential shift. Sentiment around LTC has been mixed, but a confirmed breakout could fuel renewed interest, especially as the broader crypto market shows signs of recovery.

Litecoin’s trajectory hinges on its ability to close February above the resistance threshold. If successful, the SuperTrend buy signal could attract long-term investors and push LTC toward higher price targets. Until then, traders remain cautious, awaiting confirmation before making decisive moves.