Litecoin (LTC) price has been consolidating for years, but analysts believe the long wait could be over. Crypto analyst Crypto Lama on X shared a bold outlook that places the LTC token at the beginning of a new chapter. Looking at the broader Elliott Wave structure, he argues that Litecoin has just completed an 8-year corrective phase.
According to him, the running triangle formation that has dominated LTC price action is now resolved, meaning the stage is set for an extended fifth wave, a pattern often linked with major commodity bull markets.
His chart paints a scenario where the Litecoin token stretches toward $2,175 during this fifth wave expansion. The setup mirrors commodity-like behavior, strengthening the case for Litecoin’s position as a digital commodity.
Crypto Lama points out that such wave extensions are not unusual during explosive markets, which is why he ties this projection to Litecoin’s Rainbow Power Law model.
Still, his roadmap isn’t just about blue‑sky targets. He also notes that after a rally, the LTC token could revisit lower zones as the market enters a larger corrective wave. His downside bear market projection points toward $244, a retracement level that still keeps Litecoin far above its previous lows.
Looking at his chart, the symmetry is hard to ignore. Litecoin has consistently respected the rainbow channel, and the next move could be the breakout many long‑term holders have been waiting for.
Accumulation Zone Supports Alex Clay’s Bullish Flag Scenario
Another analyst in the market, Alex Clay on X, also sees strength building in the LTC price. He emphasizes that Litecoin has been accumulating for over 1,200 days just below a major resistance zone. To him, this long period of sideways action has carved out a textbook bullish flag pattern.
Clay’s chart, with a cleaner view of price channels, shows Litecoin pressing against the upper boundaries of this range. His conservative price targets for the breakout are $280.5 and $386.2, both levels that would push the LTC token well beyond current resistance and closer to flipping the old all‑time high into support.
This perspective notes the importance of patience. Litecoin has spent years grinding between support and resistance, frustrating investors who expected faster moves. Yet according to Clay, this slow build‑up is what makes the coming breakout so powerful. When a market consolidates for that long, the eventual move is rarely small.
The ETF Delay Adds to the Suspense
Outside of chart patterns, regulatory developments are also adding drama to Litecoin’s story. The U.S. Securities and Exchange Commission (SEC) missed its October 2 deadline to decide on Canary Capital’s proposed spot Litecoin ETF. The delay was caused by the government shutdown, leaving the application in limbo.
While this might frustrate some investors, it also adds to the anticipation. If approval eventually comes through, an ETF would serve as a strong catalyst, bringing new flows into the Litecoin market.