Litecoin (LTC) Flashes Bullish Signals as Bitcoin (BTC) Breaks $90,000

With Bitcoin (BTC) recently smashing past the $90,000 mark, investor sentiment has turned decisively positive, breathing new life into altcoins

Litecoin (LTC) is flashing bullish signals amid a renewed surge of optimism across the crypto market. As Bitcoin (BTC) smashes past the $90,000 mark, investor sentiment has turned decisively positive, breathing new life into altcoins. Among the top contenders poised for a significant breakout is Litecoin, which has rebounded strongly from a crucial support zone.

Over the past 24 hours, Litecoin has rallied by more than 7%, and the increase in trading volume, up 20% to $462.49 million, further supports the case for a bullish breakout, as rising volume typically accompanies sustained price action.

Litecoin (LTC) Eyes 10x Rally From Key Zone

Crypto analyst Crypto Patel has sparked excitement among Litecoin (LTC) enthusiasts with a recent chart analysis on X, suggesting the altcoin could be on the verge of a massive breakout.

As highlighted in his post, LTC, currently trading in the $60-$80 range, has historically launched 10x rallies from this zone, with Patel highlighting key resistance levels at $105, $135, $219, and a potential climb to $388, or even $800, if momentum builds.

"This is a super bullish setup with technical indicators lining up perfectly," Patel claims, pointing to a holding trendline and cooling volume.

Launched in 2011 by Charlie Lee as a "lite version of Bitcoin," Litecoin uses the Scrypt algorithm, offering faster 2.5-minute block times and low fees, ideal for micro-transactions. However, its adoption has trailed Bitcoin's.

Uncovering a correlation, usually a subject of debate, Patel notes that according to DeepMind's analysis of 12 months of Bitcoin market cycles, BTC bull markets, often a catalyst for altcoins like LTC, typically last 12 months post-decline, hinting at a possibility of altseason.

Overall, Litecoin's technical setup, strong bounce from support, rising volume, and historical price patterns all point to a potentially explosive move ahead.

If market conditions hold and bullish sentiment continues to grow, LTC could soon break free from its current range and chart a path toward much higher levels, possibly entering a new phase of price discovery.

Solana Surges As Galaxy Digital Dumps $100M ETH For Meme Coins

In other crypto news, Solana (SOL) is surging today as Galaxy Digital disclosed a massive $100 million conversion of Ethereum (ETH) into meme coins.

According to a recent SEC filing by Galaxy Digital, the crypto investment firm liquidated a portion of its ETH holdings to diversify into a basket of meme coins. The filing reveals that Galaxy sold 11,240 BTC for $335 million and 999,900 units of LUNA at an average price of $26.40.

The funds realized from these sales were then used to purchase approximately 3.5 million units of meme coins, including X, at an average price of $0.76. The filing emphasizes that the purchase prices for meme coins may vary due to market conditions at the time of acquisition.

News data source: kdj.com

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