Will Litecoin (LTC) Surpass $75? Golden Cross and ETF Expectations

▲ Litecoin (LTC) ©Go Da-sol

Litecoin (LTC) surged over 14% in a single day, significantly outperforming Bitcoin (BTC). On-chain transactions exceeding $1 billion, a short squeeze, and the breakout above key resistance levels combined to amplify the price increase.

According to CoinMarketCap, a cryptocurrency market data aggregator, as of September 25 (local time), LTC recorded a 14.70% increase over the past 24 hours, reaching $71.50. According to the Litecoin Foundation, 17 million LTC, valued at over $1 billion, moved on-chain in one day, accounting for approximately 22% of the circulating supply. Spot trading volume also increased by about three times, indicating expanding network activity and an influx of new funds.

A short squeeze in the derivatives market also contributed to the price surge. On September 24, short positions exceeding $620,000 were forcibly liquidated within an hour, providing additional momentum for the rapid price increase. In the market, futures Open Interest and Funding Rate are considered indicators to show whether leveraged speculative demand will expand or calm down in the future.

Technically, LTC broke through the key resistance zone of $64-$65 and maintained levels above it. A Golden Cross, a bullish signal, was also confirmed on the daily chart. In the short term, the 38.2% Fibonacci Retracement level of $68.75 has been presented as a critical support level. If this level is held, there is a possibility of retesting the $75-$77 resistance zone. The liquidation heatmap also suggested the possibility of an additional short squeeze in that zone.

The next major variable is the listing approval process for the Grayscale Litecoin Trust Exchange Traded Fund (ETF, ticker LTCN). Whether LTC can form a daily close above $75 is considered key to determining further upward movement. Conversely, if the daily close is below $65, the current bullish structure would be invalidated, and there would be a possibility of retesting the lower support level around $60.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*