Litecoin Price Update

Litecoin (LTC) is currently trading at $93.32, reflecting a 1.27% increase over the last 24 hours, indicating a modest recovery. With a market capitalization of $7.06 billion, LTC remains within the top 20 cryptocurrencies.

The trading volume has surged 70.38% to $460.68 million in the past day.

Litecoin Technical Analysis

LTC has exhibited an upward trend evident in the 4-hour chart since around March 10. Initially, it dropped from $95 to $89, and then established a new pattern with lower lows around $87 and $83.54 (S2).

The upper boundary of the ascending triangle is set at $95.03 (R1), where the price has faced rejection multiple times. Currently, LTC appears to be breaking out of an ascending triangle pattern, hinting at potential upward momentum if bulls maintain control.

The price is forming higher lows within the triangle, with resistance near $93.98. A breakout above this level could trigger bullish continuation towards the next pivot levels.

LTC’s resistance levels include:
– R1: $95.03
– R2: $98.58
– R3: $102.55
– R4: $106.53
– R5: $110.51

Significant support rests at the ascending trendline, particularly at:
– S1: $87.51
– S2: $83.54
– S3: $79.9

The MACD indicator shows a bullish crossover, with the MACD line (0.23) surpassing the signal line (0.09), suggesting strong upward momentum. Rising histogram bars indicate increasing buying pressure that supports the potential for a breakout.

Litecoin Price Targets

If LTC manages to break above $95.03, it may aim for $98.58 (R2) and eventually $102.5 in upcoming sessions. Conversely, if it falls below the ascending trendline, targets S2 at $83.54 and S1 at $87.51 are likely if selling intensifies.

Bullish Triggers for LTC

LTC open interest is around $479.96 million, steadily increasing since mid-March, supporting the breakout scenario due to growing participation and leveraged bets.

VanEck and Bitwise have expressed interest in including Litecoin in future crypto basket ETFs, particularly following the regulatory approval of BTC and ETH spot ETFs in early 2025.