Litecoin closed the daily session on a bullish note, showing renewed short-term momentum as the price pressed against a key resistance level. With $57 now acting as an immediate barrier, a significant breakout and continued hold above this area could open the door to the next leg up, potentially accelerating the move higher into the mid-$60s.
Bullish Daily Close Signals Early Strength
Providing a daily technical view on Litecoin, cryptoWzrd analyst noted that LTC closed the session with a daily bullish candle, which strongly indicates Bitcoin’s upward movement. Positive closing signs improve short-term momentum, but the expert warned that a broader continuation will require confirmation from additional market factors, especially the LTCBTC pair.
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While Litecoin printed a bullish candle, LTCBTC closed flat, casting doubt on Litecoin’s relative strength against Bitcoin. LTC’s strong upside will likely depend on a shift to a clear bullish view on LTCBTC, as that will ensure liquidity and strong underlying demand.
From a structural perspective, CrytoWzrd emphasized that one strong daily bullish candle from the current level is needed to ensure an exit above the daily low trend line. If such a confirmation happens, Litecoin can move to the strongest bullish phase, with the $68 resistance level appearing as the next key target above the $56 area. A steady and sustained move above resistance will strengthen the case for the continuation of the trend.
Until that high-term exit is confirmed, the analyst plans to focus on low-term setups, especially over the weekend. His approach is always smart, looking for quick scalp opportunities while waiting for a mature chart structure before making big directional moves.
$57: Litecoin Intraday Decision Zone
The analyst continued to explain that the intraday structure of Litecoin is currently pressing the main resistance area of $57, a level that now serves as a short-term decision point for the price. A clean and sustained hold above this area will show strength and pave the way towards $64, with potential for further expansion if momentum picks up.
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He emphasized that simply being stronger than the opposition will not be enough. What is needed is a stable bullish formation, well supported by rising volume and a constructive follow-through, before considering a long position. Such confirmation will show that buyers are in control rather than the move being a short-term cash sweep.
At the same time, he noted that Bitcoin’s direction will likely dictate whether this exit is beneficial. Litecoin continues to follow broader market sentiment, meaning BTC’s strength could act as a catalyst for further gains. Until a mature and well-defined intraday structure forms, patience is always important before engaging in the next trade.
