Litecoin Faces Key Hurdle in Push Back to Record Highs

The price of litecoin is up from a recent low, but Monday's chart analysis suggests it's facing a key crossroads in a bid to push much higher.

AccessTimeIconDec 18, 2017 at 2:30 p.m. UTC
Updated Sep 13, 2021 at 7:17 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Price chart analysis suggests litecoin could soon revisit record highs.

If so, the development would mark a reversal from last week, when the world's fifth largest cryptocurrency reached new heights at $341.80, only to lose ground to bull market exhaustion.

However, most notably, the subsequent dip to $251.22 on Dec. 15 low is now proving short-lived.

As of Monday, LTC is trading back above $300, averaging $320 across global exchanges. As per CoinMarketCap, it has appreciated by 0.4 percent on the day, but the sharp recovery only underscores the market's strong "buy the dip" mentality.

And with the huge bitcoin (BTC) bull run showing some signs of fatigue near the $20,000 mark, investors could once again turn their attention towards litecoin and other alternative currencies.

The investor community also appears to expect LTC to re-test record highs soon, hinting that its already meteoric annual gains could be extended from its already staggering 7,000 percent.

Litecoin 4-hour chart


The above chart (prices as per Coinbase) shows:

  • A series of higher lows as represented by the ascending trendline (blue line).
  • Rounding bottom along the ascending trend line support.
  • The 50-MA is curled up in favor of the bulls.


The above listed technical factors are aligned in favor of the bulls. Still, the job is only half done as prices need to break above the resistance offered by the bear flag pattern (essentially an upside down version or the inverted version of the bull flag).

It is a bearish continuation pattern, i.e. a downside break (close below $317) would signal a continuation of the sell-off from the high of $420. Still, in the short-term, the dips below $270 could be transient, courtesy of the upward sloping 10-day MA.

Only a break above $345 (flag resistance) would add credence to higher lows, rounding bottom pattern and shall open doors for $420 levels (record highs).

Litecoin image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.