Litecoin (LTC) has been stuck in a narrow range for the past week, leaving investors wondering what's next. Despite a slight decline, LTC's price action has sparked hopes of a potential breakout. According to market analysts, Litecoin's trend might change due to a specific formation, leading to a significant price increase in the coming weeks.

Currently, Litecoin ranks 19th in market capitalization, trading at $80.10 with a market cap of $5.9 billion. Although sentiment remains negative, on-chain data reveals encouraging signs. Whale density and activities have remained high, while the MVRV ratio has risen to 14.79%. However, the fear and greed index has dropped to 40, indicating a shift towards fear.

Analysts predict that if Litecoin breaks out of its current range, it could reach $120. The biggest obstacle is the resistance level of $89.48. If surpassed, LTC might first hit $106 and then $120. Conversely, if it falls below the support level of $77.14, the price could plummet to new lows.

In conclusion, Litecoin's price trend is at a crossroads. Will it break out or fall? Investors are advised to keep a close eye on market developments and on-chain data to make informed decisions. With the potential for a significant price increase, Litecoin remains an interesting asset to watch in the coming weeks.