Litecoin (LTC) showed a V -shaped recovery after a decline to 106 USD 25 February. After a compact decline below 50-day and 100-day interpretation medium-sized (EMAS), Altcoin has regained the position of stubborn and currently exceeds most of the resources on the Cryptto market.
Litecoin 1-hour chart. Source: Cointelegraph/TradingView
Litecoin has “one of the best charts in crypto”
The current Litecoin results suggest that it occurs at an asymmetrical rally compared to a wider cryptographic market, and most Futures LTC traders maintain a clear directional attitude. Data It emphasizes a clear trend in which the open interest of LTC consistently reached USD 140.
Litecoin open interest, financing rate and liquidation chart. Source: velo.data
During the last LTC correction, its open interest dropped from USD 885 million to USD 525 million, which is a 40% decrease between February 20 and 26. However, most OI fell during the first three days. Over the past two days, it has remained flat during LTC.
Over the past 24 hours, Flash OI has been observed with a 10% augment in price, which can mean fresh long positions from traders. The augment in the financing indicator has additionally confirmed that more long was vigorous than shorts.
In the featherlight of this Tyler, an anonymous cryptographic trader, he said that Altcoin presented “one of the best charts in Crypto.”
Poseidon, a cryptographic analyst, followed by sentiments, who anticipated that Litecoin is aimed at a fresh highest $ 300 of all time.
However, a technical analyst, Mihir, believed that the long -term goal could be even higher.
The analyst said
“LTC reached USD 350 in 2017 – 310x movement. He received the highest level of 2017 during Bull Run, but he failed to create a new ATH. In the current race (2023-2025) it moved little, but this year it indicates the growth movement. If it breaks above USD 250, then $ 1000 is feasible. “
1-month Litecoin analysis: Mihir. Source: x.com
Related: Money supply M2 can call the “Parabolic” Bitcoin – analyst
General resistance hangs for $ 140
As shown in the chart below, the weekly price campaign Litecoin has strength, and the candle is similar to USD 133 will mean its highest level from January 2022. However, Altcoin has not broken above the general resistance over the past three months.
With liquidity on the supply side (yellow box) available at the top, LTC needs over USD 133 a week to annul the resistance range.
1-week Litecoin chart. Source: Cointelegraph/TradingView
Related: Bitcoin sets a fresh 3-month low as the eyes of an analyst $ 93.5,000 Reclaim “This week”
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
