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Litecoin has pulled back about 6% after a strong bullish week.
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Market veteran Peter Brandt sees a classic bullish chart pattern forming for LTC.
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The cryptocurrency remains in a bullish posture and could resume an uptrend after this correction.
Litecoin (LTC/USD) has shown notable strength over the past week. As CoinJournal reported, part of the recovery may be driven by anticipation of the next Litecoin halving. Those gains triggered a breakout that pushed prices higher. Following that move, LTC is undergoing a short-term correction with an intraday decline of roughly 6%. The question for traders is whether this pullback will extend or simply mark a consolidation before the next leg up.
Experienced crypto trader Peter Brandt believes LTC has formed a classical bullish chart pattern. Brandt highlights the appearance of a double-bottom structure followed by an upward move as a key signal of trend reversal. He notes that Litecoin completed a similar setup in November, which preceded a rally that delivered about a 65% gain.
Brandt explains why he considers this a textbook double bottom. He cautions that many market participants mislabel such patterns; in his view, a valid double bottom usually has months between the two lows, and the trough-to-peak depth should represent more than a 20% move relative to the market price. When those criteria are met, the pattern is more likely to indicate a durable trend change rather than a short-term fluctuation.
LTC corrects slightly after a bullish breakout
LTC/USD chart by TradingView
Technically, buyers still appear to be in control despite the recent fade from the $80 area. The daily chart shows a short-term bullish trendline that has been intact since the double bottom formed near $50. Momentum indicators support a constructive outlook: the MACD remains in bullish territory, and while the RSI eased after reaching overbought levels around $80, it remains above the midpoint—an indication that bulls still have the edge.
What next for LTC?
The current price action looks more like a correction within an ongoing uptrend than the start of a sustained bearish reversal. If the pullback continues, $64 stands out as a reference support level to watch. The $70 area is also an important zone that could act as a buying opportunity and trigger a bullish reversal if demand re-emerges there.
Medium-term price targets for Litecoin remain around $95, which is the next established resistance zone from recent price action. As long as bullish momentum persists and the trendline support holds, investors may choose to hold existing positions or add to them on weakness.
Where to buy LTC
When looking to acquire Litecoin, use a reputable exchange or broker that supports LTC trading and offers strong security controls. Consider factors such as fees, liquidity, asset custody options, and regulatory compliance before selecting a platform. Always use best practices for account security, including two-factor authentication and secure storage for any long-term holdings.