Yahya 
By market capitalization, Litecoin (LTC) ranks presently as the 19th biggest cryptocurrency with only a little price increase. With its market value of around $4.9 billion, this upward ascent has shown new asset activity and interest.
After spot transaction volume increased 40% over the past 24 hours, litecoin now ranks $410.08 million. Rising the volume-to—market cap ratio to 8.09% this additional activity has also indicated increased liquidity and raised investor and trader interest.
The Litecoins owned by Grayscale Investments have also grown; at just now, they count 1.84 million LTC. The price and market attitude of Litecoin appear to have improved with this growing institutional interest.
Rising from 327,720 to 434,750 in only one day, active Litecoin addresses indicate obvious on-chain data increase from IXFI. This increasing count of active addresses points a notable increase in Litecoin trading and investing activity.
Positive Prospects and Goals
Technically, Litecoin has shown a descending triangle on the weekly chart—a trend usually seen as positive. This triangle has experienced opposition since 2021, even although support of around $50 has been robust since 2018.
Behavior of prices below the 200-period and the 50-period EMAs verified this; Litecoin fell from a 2021 high of $414.91 into a slide. Though Litecoin stays above the $74 level, suggesting a likely change of character (CHoCH), the most recent price rise relates to Litecoin maybe about ready for a breakout.
Based on current market activity, short-term Litecoin targets are $115, $145, and $176; Fibonacci retracing method implies likely long-term targets of $210, $280, and $360.
Originally peaking on the daily chart at $112 on April 1, 2024, Litecoin dropped to $49.90 on August 5. Trading at $65.48 with constant momentum, the price has rebounced by more than 32% in the last two weeks.
Technical indicators such as the MACD and RSI imply that more growth might be expected particularly if Litecoin can sustain its present increases and break beyond important resistance levels.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.