🚀 Litecoin Signals Bullish Breakout
Since establishing solid support above $59 in August 2023, Litecoin (LTC) has been on a bullish path. Its daily trading volume jumped 107% on November 12, reaching $1.73 billion, following last week’s 14% rally. The weekly RSI crossed the 50% mark for the first time since May, indicating increased buying pressure.
📊 Key Price Targets & Fibonacci Levels
Technically, Litecoin is eyeing a price range of $100 to $112, aligning with the 0.786 and 1 Fibonacci Retracement levels. This range is seen as a critical area where new liquidity may emerge, supporting further gains.
🔗 Growing Popularity Among Investors
Litecoin’s proof-of-work (PoW) consensus mechanism continues to attract miners and investors. On-chain data shows over 7.7 million holders. Short-term investor balances have surged by 31% in the past month, with Open Interest-weighted funding rates hitting multi-month highs—signs of growing market optimism.
🏦 Institutional Interest & ETF Speculation
Institutional interest in Litecoin is rising, with analysts speculating it could be among the altcoins approved for a U.S. spot ETF in the near future. This potential regulatory boost could drive more interest and push prices higher.
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