Categories: MarketsMenafn

Can Litecoin Hit $80 After Overcoming Key Resistance?

Litecoin (LTC) has demonstrated notable strength, securing a position as one of the market’s best-performing altcoins. 

Despite losing its dominance and dropping out of the top 10 cryptocurrencies due to the emergence of new contenders, Litecoin faced disappointment following its halving in August last year, failing to generate the anticipated bullish price growth.

Litecoin Trading Volume Spikes by $300M

With a more than 5% surge in the last 24 hours, reaching $71.21, the cryptocurrency has successfully recovered from recent losses, posting a 1.78% increase over the past month.

LTCUSD 1-Day Chart

Since August, Litecoin has struggled to surpass the $90 price mark, but recent developments indicate a positive shift. While the current outlook might not match previous highs, LTC has rebounded from its lowest point, reaching $58.8.

The successful flip of the $70 resistance zone and its conversion into support signals LTC traders’ determination to establish a new bullish momentum. The cryptocurrency is holding firm at this level, raising the possibility of an upswing towards the next significant resistance at $80.

Despite facing competition from newer protocols like Solana (SOL) and Avalanche (AVAX), Litecoin maintains its appeal as a viable alternative to Bitcoin (BTC) for value transfer.

The protocol is achieving new milestones, serving as a faster and more cost-effective payment method, contributing to a surge in active addresses. As the LTC halving occurred in Aug. 2023, the hash rate touched the bottom of 690T, before posing an all-time high hash rate of 935T.

Recent reports indicate a substantial increase in Litecoin’s trading volume, with an additional $300 million processed in the past 24 hours. The surge in volume is attributed to significant purchases from large accounts, commonly known as whales in the cryptocurrency community. 

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Sui Price Surges 10% as the Network Launches Virtual Mastercard Integration In Europe

Sui is expanding its reach into everyday utility by integrating with crypto fintech platforms xPortal…

8 hours ago

Immutable Surges 42% Amid Gaming Adoption and Whale Activity

Immutable, the Ethereum Layer-2 solution powering Web3 gaming, has reclaimed the spotlight with a 42%…

20 hours ago

From 0 to R2 — Why We Built the Future of Yield

Dubai, UAE, 24th April 2025, ZEX PR WIRE, A Message from the Founding Team Quick…

22 hours ago

SUI Jumps 26% in 24 Hours Amid Wider Crypto Market Rally

SUI has spiked 26% in the last 24 hours and is now near the $3…

1 day ago

Lumoz RaaS to Support RISC-V zkEVM: Advancing Layer2 Performance and Scalability

Lumoz RaaS introduces support for RISC-V–based zkEVM, offering prebuilt development modules and a compatible toolchain…

2 days ago

Smartproxy Rebrands to Decodo: A New Era of Web Data Solutions

Vilnius, Lithuania, 22nd April 2025, ZEX PR WIRE, Smartproxy, a leading provider of proxy and web…

2 days ago