Litecoin (LTC) has experienced notable growth lately, with its price rising by more than 22.43% over the last week and around 24.31% in the previous month.
Although this performance is relatively lower compared to other cryptocurrencies like Solana, Ripple, and Cardano, the increase in the LTC price is in line with the overall positive trend in the global cryptocurrency market.
Moreover, while its trading volume had declined 45.41% at press time, it had surged over 96% on November 17.
This initial spike in trading activity occurred as Charlie Lee’s cryptocurrency adopted a more playful branding strategy, which is evident through new X posts and memes that have captured investors’ interest.
On November 14, 2024, the official social media account of Litecoin stated, “I now identify as a memecoin.” This shift aligns Litecoin with the current trend of memecoins made popular by recently booming meme tokens like GOAT, PNUT, and Act I: The AI Prophecy, which have gained significant user traction.
Litecoin price prediction: LTC eyes $100
Litecoin (LTC) is currently experiencing a robust bullish trend. The price has recently broken through the critical resistance level of $74.21 and has climbed to its present value of $93.68, showing a notable 24-hour increase of 7.42%.
This breakout above significant technical levels suggests the possibility of further upward movement, as LTC seems to be aiming for the psychological level of $100.
In addition, the Litecoin price has moved past the Bollinger Upper Band ($76.04) and exceeded key moving averages: the 50-day SMA ($67.31) and the 100-day SMA ($66.15).
These breakouts affirm a strong bullish trajectory, with the 50-day SMA as a crucial dynamic support level. The breakout from the long-standing resistance zone at $74.21 indicates that the previous selling pressure has been overcome, setting the stage for upward progress.
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