Litecoin Breaks July Trendline: Key Support Levels Loom Ahead

Litecoin has broken above its July trendline and is currently sitting above the May high. This move does not necessarily settle the longer-term trend, but it gives the daily chart a new structure.

The Fibonacci retracement resistance levels have also been reached, with the 23.6% level at $66.6 serving as a shallow retracement zone. However, the key test lies in the area between $61 and $64, where three separate references meet: the former descending trendline, the July horizontal high, and the 38.2% Fibonacci retracement.

A pullback into this range would not erase the advance, but rather serve as a test of whether the former barriers are starting to operate as support rather than resistance. A daily closing basis above the upper part of this zone would confirm that these levels have become supportive.