Crypto analyst ZAYK Charts has highlighted breakout formations in Litecoin (LTC) and Toncoin (TON), indicating potential upward momentum for both tokens. Through tweets, ZAYK Charts pointed to key technical indicators that suggest a bullish outlook for LTC and TON in the coming months.
LTC’s trendline breakout on the weekly chart hints at a price surge, while TON’s falling wedge pattern on the daily chart signals the potential for further gains.
LTC Breaks Long-Term Downtrend
ZAYK Charts’ analysis shows that Litecoin has broken above a descending trendline on its weeky timeframe. This trendline has held since 2021, representing a prolonged downtrend. The breakout above this line suggests a reversal toward a potential uptrend.
According to the analyst, this shift in trendline positions LTC for a price target of $300 within two to three months. The price projection aligns with a calculated gain of approximately 278.34% from the breakout level.
The $80–$85 breakout range now serves as a support level where buyers may step in if there’s a price pullback. Meanwhile, the $300 mark, a previous high, becomes a significant resistance level and psychological barrier for investors. The recent weekly trendline breakout marks a promising indicator of renewed buying interest.
Read also: XRP Price Hits Multi-Year Resistance Break, Could $1.03 Be Next?
TON Bullish Continuation Expected After Wedge Breakout
In his analysis of Toncoin, ZAYK Charts points out a falling wedge pattern on the daily chart. This formation, known for its bullish implications, has been broken to the upside, suggesting that TON may be ready for further gains.
The analyst notes that TON is currently in the retesting phase, a common step after a breakout where the price revisits the breakout level for confirmation.
ZAYK Charts predicts a potential 50-60% price increase for TON, projecting a target price around $8.5 from the breakout level near $5.3. This projection is based on the height of the wedge pattern, a standard method for calculating breakout targets.
The $4.5 level, representing the lower boundary of the wedge, acts as support if TON experiences a pullback during the retest. Successfully holding above this level could further support TON’s bullish continuation.
Market Sentiment and Momentum
These breakout patterns in both LTC and TON, as highlighted by ZAYK Charts, indicate potential buying momentum.
For LTC, the weekly breakout suggests a long-term bullish shift, while TON’s falling wedge breakout offers a bullish continuation signal if the retest holds.
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