Dogecoin

Litecoin

Solana

<ul> 
 <li>Litecoin’s price is up 15% in the past 24 hours.</li> 
 <li>The daily RSI suggests that LTC is facing selling pressure.</li> 
</ul> 
In a bearish ride recently faced, where altcoins are facing a heavy <a href="https://thenewscrypto.com/investors-anxiety-peaks-as-altcoins-plummet-to-new-lows/" target="_blank" rel="noreferrer noopener nofollow">dump</a>, Litecoin is telling a different story. Despite hitting an 11-month low of $56.86 six days ago, Litecoin has recovered to $69.32 today. Litecoin is up 2% in the past 24 hours, with trading volume increasing by 39%. 
Notably, in the past week, Litecoin has risen by 15%. According to <a href="https://x.com/intotheblock/status/1811675243783614555" target="_blank" rel="noreferrer noopener nofollow">IntoTheBlock</a>, Litecoin processes $2.85 billion in transactions over $100k daily on average, which is over 50% of its market cap. This figure surpasses most Layer 1s. For instance, <a href="https://thenewscrypto.com/dogecoin-doge-derivatives-market-activity-plunges-to-yearly-low/" target="_blank" rel="noreferrer noopener nofollow">Dogecoin</a> handles $590 million in large transactions, despite having roughly three times it’s market cap. 
Moreover, Analysts are bullish, noting that Litecoin has attracted more speculative investors. The network offers deep liquidity and faster transactions. They believe it is well-positioned to surpass its all-time high in this cycle, after underperforming in previous ones. 
<h3 class="wp-block-heading" id="h-ltc-to-surge-past-75">LTC To Surge Past $75?</h3> 
A closer look at Litecoin’s recent price movements reveals an underlying bullish trend on the daily chart. The 9-day exponential moving average (EMA) is recorded below the trading price at $67.25, further emphasizing the bullish sentiment. The daily Relative Strength Index (<a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ALTCUSDT" target="_blank" rel="noreferrer noopener nofollow">RSI</a>) has hovered around oversold levels recently. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfAU2xTvjEZolKZtP40yaAo-wvB4yX7rBlS_f7MeSI0HiDwMx1r6fsO-KDvt-V_j8voticTZq7d7njRv15c32CrDCR54HNg84kj9Vz6VPBdm7hNcj8D3CNRTBLO6LHZRPpJqSlICsa-2VlB58DIAqsLRI4?key=c44c9ePG-RNNQ0Dkx8LYKw" alt="">
 <figcaption class="wp-element-caption">
 &nbsp;LTC Price Chart, Source: Santiment 
 </figcaption>
 </figure>
</div> 
If the price breaks through the $70 resistance level, it could test the $76 resistance. Conversely, a drop below the $64 support level might see it testing the critical $57 level. 
Highlighted News Of The Day 
<a href="https://thenewscrypto.com/will-solana-bulls-win-the-combat-against-opposing-bears/">Will Solana Bulls Win the Combat Against Opposing Bears?</a>

Why Is Litecoin (LTC) Grabbing Traders’ Attention?

Table of Contents

TheNewsCrypto

Other articles published on Jul 12, 2024

MoonBag’s Top Crypto Presale in 2024 Gives Hope to INJ & QNT Investors

TRON and SAFE See Significant Trading Activity as Market Awaits Next Move for Emerging Presale To...

BlockDAG’s CEO & Team Reveal Drives Presale to $57.4M Amidst Declining Prices for Aptos and Render

JASMY 2,550% Price Pump in Play as JasmyCoin’s Latest ISMS Acquisition Sets Project on Bullish Path

Altcoins to Sell Hot on the heels of Dwindling Stablecoins Volume

Chainlink (LINK) Whale Holdings Reach 8-Month High as Price Rebounds

Join our free newsletter for daily crypto updates!