Litecoin has recently broken out of a multiyear symmetrical triangle pattern, signaling potential positive movements. Currently trading at 112.32 USD, the price increased by 0.86% over the last day. This breakout sets the stage for a promising bullish momentum towards resistance levels of 136 USD and 232 USD.

Indicators such as a Relative Strength Index (RSI) of 61 and bullish crossover of the 9-day and 21-day moving averages underscore potential upward motion for Litecoin. These signals suggest a likelihood of sustaining the rally if favorable market conditions persist. However, traders are advised to be vigilant as the price nears resistance points.

On-chain metrics offer a mixed perspective. The ‘in the money’ metric ROSE by 1.15%, boosting confidence among holders. Yet, low network growth and decreased large transactions show some bearish signs. The MVRV ratio, at 25.41%, indicates moderation in valuation. A price-DAA divergence suggests caution as it may signal volatility in coming sessions.