• Litecoin shows bullish momentum, potentially pushing the price beyond $200 in the near term.
• Market sentiment and historical cycles suggest LTC could challenge broader crypto dominance.
• Near-term pullback expected before another upward wave confirms major rally potential.

Litecoin (LTC) is gaining attention as analysts anticipate a potential major rally ahead. Technical analysts suggest that after LTC initiates a vertical breakout, it may surpass current market predictions. Technical indicators also indicate another drive up in the orientations before a potential run-up through higher marks.

At press time, LTC is trading at $118.80, registering a gain of 2.65% in the past 24 hours, with a 24-hour volume of $1.49 billion and a market value of $9.11 billion. The latest price move stirs excitement in the crypto community, with experts hinting at a major breakout ahead.

Litecoin Momentum Signals Big Move

One well-known crypto analyst, master,  pointed out that when LTC starts going on the upward trajectory, the momentum could exceed many predictions. He compared it with prior market cycles when Litecoin’s network value coordinated strongly, resulting in big rallies.

According to him, while it is more challenging to prognosticate exactly where LTC could rise, the changing sentiment in the market could create a new script, indicating that LTC’s trajectory could even threaten Bitcoin’s dominance in particular regions.

Also Read | Litecoin Price Alert: Bullish Pattern Signals Potential $285 Breakout

Litecoin Nears Bullish Breakout

Meanwhile, another analyst, More Crypto Online, noted that Litecoin is apparently finishing a micro 5-wave pattern from the low it touched in September, with a near-term bull move. Currently, the zone of support is between $113.29 and $119.29, and optimally, another high is due before a wave (2) corrective move. 

Upon completion of that near-term pullback, the subsequent impulse wave (c of iii), Litecoin’s price could push beyond the $200 top, as long as the low of September stands in validity.

As LTC regains strength, both technical and historical indicators indicate that the big move in the near term could reclassify its placement within the larger crypto environment. Analysts are consequently monitoring closely whether or not LTC is best in maintaining support and verifying the beginning of much-awaited bullish action.

Also Read | Litecoin Faces Setback as ETF Approval Nears, Eyes Towards $280