The post Litecoin Price Eyes $100 Comeback as On-Chain Volume Hits 16-Month High appeared on BitcoinEthereumNews.com.

During a low volatility Saturday, the Litecoin price surged 3% to trade at $75.3. The bullish trajectory is likely fueled by on-chain recovery and a major breakout from price. Will the LTC Price build sufficient momentum for a $100 comeback, or are sellers ready to counterattack? Litecoin Price Targets $100 as On-Chain Volume Reaches 16-Month Peak According to Santiment data, the Litecoin on-chain transaction volume soared to nearly $4 billion in a single day—the highest level in 16 months. The surge in transaction volume, along with price recovery, signals buyers’ convocation to drive a higher rally, One of the key drivers behind this surge is the growing discussion around Litecoin, which now accounts for 1.08% of all crypto-related discussions, a notable increase in social dominance. The heightened on-chain activity signals the growing appeal of Litecoin among investors as broader market conditions rebound. Highest on-chain transaction volume in 16 months! Nearly $4 Billion in a single day!!! #Litecoin ⚡️ $LTCSource: @santimentfeed pic.twitter.com/g28YwNu5M7 — Litecoin (@litecoin) October 18, 2024 By press time, the Litecoin price had traded at $75.2, while the market cap had boosted to $5.6 billion.  LTC Price 2.5% Away From Major Breakout Over the past four months, the Litecoin price prediction has traded sideways, struggling to surpass $77 resistance. An analysis of the daily chart shows this consolidation hovers above the bottom support trendline of a long-coming triangle pattern. Theoretically, the pattern drives a temporary consolidation for the prevailing trend to regain its momentum. With the chart pattern intact, the Litecoin price is poised to rebound within the two trend lines before offering a deceive breakout. Amid the Canary Capital filing for an LTC ETF, the coin price rallied to $75.26, marking a 21.5% growth over the past two weeks. A bullish recovery backed by a notable spike indicates…

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Filed under: News - @ October 19, 2024 10:53 pm