CandleFocus Litecoin Price Forecast: LTC hits $130 for first time in almost three years as open interest soars
2024-12-02
Author: Content Editor
The recent reversal of sanctions placed on Tornado Cash by a US court has improved sentiment around privacy-focused coins, including Litecoin. The court's decision recognizes Tornado Cash as a neutral technology and limits government oversight over blockchain protocols. As a result, Litecoin has experienced a surge in demand, driving its price towards $130. The rally may not be over yet, as market signals indicate further gains could be possible. Rising open interest in Litecoin futures contracts and a strong trend indicated by the Average Directional Index support the bullish momentum. If the key support at $115 holds, Litecoin could rally towards $150 in the coming weeks, but a close below $115 could negate the short-term bullish sentiment.
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