Litecoin (LTC) price continues to climb, trading above $118 on Thursday, extending gains of over 10% so far this week. The bullish momentum is further supported by rising Open Interest (OI) and trading volume in the LTC token.
Litecoin price extends its gains on Thursday after rallying more than 10% so far this week.On-chain and derivatives data indicate a bullish outlook, as trading volume and open interest for LTC are on the rise.
The technical outlook suggests a rally continuation, with bulls targeting $130.Litecoin price continues to climb, trading above $118 on Thursday, extending gains of over 10% so far this week. The bullish momentum is further supported by rising Open Interest and trading volume in the LTC token. Meanwhile, technical analysis suggests an upward leg targeting levels above $130.On-chain data and derivatives show bullish bias for LTCCoinGlass’s data show that the futures’ OI in Litecoin at exchanges rose from $797 million on Tuesday to $955 million on Thursday, the highest level since September 20. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current Litecoin price rally.Litecoin open interest chart. Source: CoinglassAnother aspect bolstering the platform’s bullish outlook is a recent surge in traders’ interest and liquidity in Litecoin. Santiment data shows that LTC’s trading volume rose from $286.70 million on Tuesday to $1.05 billion on Thursday, the highest since August 15.LTC trading volume chart. Source: SantimentLitecoin Price Forecast: LTC bulls aiming for $130 markLitecoin price found support around the 200-day Exponential Moving Average at $103.61 on September 25 and rose 12.5% by Wednesday. This level roughly coincides with multiple support levels, such as the volume profile POC is at $102.62, the price level with the highest traded volume since November 2024, the 50% retracement level is at $98.68, and the ascending trendline , making this a key support zone. At the time of writing on Thursday, LTC continues to trade higher above $118.If LTC continues its upward momentum, it could extend the rally toward the next resistance at $130.The Relative Strength on the daily chart reads 61, above the neutral level of 50, indicating bullish momentum. The Moving Average Convergence Divergence showed a bullish crossover on Wednesday, signaling a potential buy opportunity and indicating the possible start of an upward trend.LTC/USDT daily chartHowever, if LTC faces a correction, it could extend the decline toward the 200-day EMA at $103.61. Related news Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC eyes fresh upside while ETH and XRP consolidate Stellar Price Forecast: XLM poised for breakout amid rising TVL, fading bearish momentum 1inch Price Forecast: 1INCH eyes breakout as bullish momentum builds
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