Litecoin Holds Above $120 As Price Approaches Key $124.50 Resistance With Growing Momentum

After several weeks of a consistent upward trend, Litecoin is already trading above the $120 mark, with $124.50 highlighting as immediate resistance.

The $111.16 since the beginning of the bullish price channel has proven to be a strong support level.

LTC has gained momentum in volumes and relative strength compared with several altcoins since April, a sign of ongoing short-term market interest.

Since April, Litecoin has demonstrated strong resistance and continued to ascend steadily, going up to recently surpass the $120 mark. The price movement of the token over the given several weeks has placed the token at a special key point, making technical signals show increasing strength.

Volume has steadily increased during the recent rally, confirming a consistent level of market participation. The current price structure suggests that $LTC is testing the boundaries of its resistance zone, creating heightened attention across trading desks and charting platforms.

Price Tests $124.50 Resistance Following Weekly Gain

Atpresstime, Litecoin was trading at $122.08, resting just below its immediate resistance level of $124.50. In the past week, the token has increased by 10.9%, ranking it as one of the high-performing large-cap altcoins.

This level has capped several recent upside attempts and remains a key short-term barrier. Should a daily close form above this mark, the next potential area of interest lies near the $150 range. However, failure to clear resistance could maintain the token within its current consolidation pattern.

Litecoin Holds Support as Tight Range Signals Imminent Breakout

Despite recent upward movement, Litecoin has continued to respect its short-term support at $111.16. This level has been resistant to the current rally phase and has experienced repeat responses over the last few sessions. It is worth noting that price action has been trading in the area of $111 to $124 depicting an entangled market structure. Traders have thus been observing this channel to confirm either a breakout or the rejection.

In comparison with other altcoins, Litecoin has shown a higher momentum and relative strength in a similar time period. Volume data shows increasing buy-side activity across major platforms, with notable attention on perpetual contracts

The asset’s sustained uptrend from April has pushed it ahead of several peers in weekly performance. Momentum indicators and trade frequency data suggest that the asset continues to benefit from renewed interest, particularly among short-term participants and technical traders.