The cryptocurrency market experienced an uptick on January 17th as Bitcoin attempted to reach the $100k mark. Litecoin emerged as the top-performing cryptocurrency, surging 20% due to the buzz surrounding the potential listing and trading of the Canary Litecoin ETF on Nasdaq. This move could legitimize Litecoin and attract traditional investors, driving its demand and market profile. Furthermore, the Litecoin futures open interest saw a significant increase, indicating growing trader activity and anticipation for possible price movement. Analysis of Litecoin's weekly chart revealed the formation of a cup-and-handle pattern, suggesting a temporary pullback before regaining bullish momentum. The current price of Litecoin stands at $127, which is just 13.5% away from challenging the key resistance level of $144. If the momentum continues, there is the potential for a post-breakout rally that could push the price to $250. However, if sellers defend the resistance level, consolidation could continue into the next month.



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