Litecoin Going For Breakout, Open Interest, Social Activity Surge
The post Litecoin Going For Breakout, Open Interest, Social Activity Surge appeared on BitcoinEthereumNews.com.
Litecoin price Resistance formed multiple times around $137–$140, aligning with previous rejection points. The lower trendline showed support near $130, preventing further downside. A breakout above $140 could drive bullish momentum toward $150 or beyond, but rejection risks reversal to $120. Volume remained moderate at 2.01M, indicating cautious participation. The pattern historically leads to breakdowns, yet LTC’s recent strength suggested potential divergence. Bullish wedge channel | Source: Crypto TA King/x If buyers sustain momentum, the next attempt at $140 may succeed. Failure to hold $130 could confirm trend exhaustion, accelerating declines. – Advertisement – Traders watched for confirmation signals before positioning aggressively. Highest LTC Social Activity Share LTC social activity share also crossed 1.9%, reaching its highest recorded level. Social dominance rose 0.35% to 1.45%, reflecting heightened interest. LTC price surged 104.52%, touching $136.17, indicating strong correlation with social buzz. Trading volume spiked 595.4% to $1.63B, supporting increased engagement. If social dominance continues rising, LTC could break resistance at $140, attracting more buyers. Litecoin social activity source: LunarCrush Analytics/X Market cap climbed confirming capital inflow indicating sustained social traction could fuel bullish momentum. A decline below 1.5% social dominance could weaken sentiment, leading to price consolidation near $130. Litecoin Futures Open Interest Soars to a 4-year High Additionally, Litecoin futures open interest soared to a 4-year high of $758 million, reflecting strong speculative interest. This surge indicated increased market activity and potential price volatility. LTC price reached $136.17, rising 104.52%, supported by high leverage. Trading volume spiked 595.4% to $1.63B, confirming active participation. Market cap climbed $5.3B to $10.29B, reinforcing capital inflows. The consistent open interest growth signaled rising demand. Increased futures exposure suggested traders anticipated further LTC price movement, likely testing $140 resistance. Exchange LTC futures open interest source: Coinglass If open interest remains high, LTC could extend gains…
Filed under: News - @ February 23, 2025 9:11 pm