CandleFocus Litecoin 10% Rally Targets $100 as On-Chain Volume Nears $4B
2024-10-18
Author: Content Editor
Litecoin (LTC) has seen a surge in its on-chain transaction volume, reaching nearly $4 billion. With Bitcoin's price reaching $68,000, Litecoin has gained momentum, increasing by 10.64% in the past seven days. Currently trading at $71.98 with a market cap of $5.40 billion, Litecoin is aiming for a bullish trend towards the $100 mark. The daily chart shows a breakout above a resistance trendline, forming a rising channel pattern. Litecoin is challenging an overhead resistance trendline and has surpassed the 38.20% Fibonacci level. The bullish trend has surpassed important exponential moving average lines and is supported by positive MACD and histogram readings. Litecoin's on-chain volume and retail interest are increasing due to ongoing developments and initiatives from the Litecoin team. A successful breakout rally could see Litecoin reach the $85 and $100 price levels, while a bearish reversal could test the $65 mark.
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