Litecoin is making some moves while most of the crypto market is snoozing.
The silver to Bitcoin’s gold is up about 10% in the last 24 hours, making it the top performer in the top 100 cryptocurrencies. The question is why?
Litecoin holders assemble
Thanks to this rally, 77% of Litecoin investors are now sitting on profits. Only 16% are still in the red. Not bad, LTC hodlers, not bad at all.
What’s driving this Litecoin love? A big factor is the growing hype around a potential spot Litecoin ETF in the US.
The SEC has acknowledged Canary Fund’s interest in launching such a product, and Polymarket gives it an 81% chance of happening before the end of 2025. If that gets approved, look out, a rally could arrive.
Crypto twitter weighs in
The crypto community is buzzing about Litecoin’s resurgence. One X user, XForceGlobal, thinks LTC is shaping up to be the next XRP.
Others are watching the charts closely, predicting a price spike to $128. Some analysts see any dips as buying opportunities. There’s no lack of hopium, that’s sure, but there are fundamentals too?
RSI says pump the brakes?
Before you go all-in on Litecoin, there’s a potential red flag, the Relative Strength Index.
This technical tool suggests that Litecoin now might be overbought in the short term.
The RSI ranges from 0 to 100, and a reading above 70 usually means an asset is overvalued and due for a pullback.
Litecoin’s RSI has been creeping up and is now in that overbought zone. So, while the Litecoin party might be fun right now, a correction could be on the horizon.
