LTC (Litecoin) rose 4.51% in the last 24 hours.

Gate News Bot news, July 11, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at 94.72 USD, with a rise of 4.51% in the last 24 hours, reaching a high of 95.14 USD and a low of 85.23 USD. The 24-hour volume is 569 million USD. The current market capitalization is approximately 7.205 billion USD, an increase of 311 million USD compared to yesterday.

Litecoin is a peer-to-peer internet currency that supports global instant payments at nearly no cost. As an open-source global payment network, Litecoin is completely decentralized and not controlled by any central authority. The network is secured through mathematical methods, giving individuals the ability to control their own finances. Compared to mainstream digital currencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With extensive industry support, volume, and liquidity, Litecoin has become an important complement to Bitcoin and is a mature medium for commercial transactions.

Important news about LTC recently:

1️⃣ Technical breakout indicates trend reversal The price of Litecoin has broken through a key resistance level, and the daily chart has surpassed the descending trend line, releasing a strong buy signal. LTC has consistently remained above the 50-day and 100-day moving averages, which were strong resistance levels recently. The next important target is the key resistance zone at $97.10, followed by the ultimate test at the 200-day moving average ($98.50). If this position is successfully broken, the mid-term trend reversal of Litecoin will be confirmed, paving the way to challenge the psychological barrier of $100.

2️⃣ Expectations for spot ETF approval increase The probability of a Litecoin spot ETF being approved has reached 95%. If approved, it will provide a compliant entry channel for institutional funds, while the advantages of low fees and high liquidity are expected to attract large capital inflows. This could drive LTC to become a strong competitive currency in this bull market.

3️⃣ Key Price Ranges and Operational Strategies The bullish defense line is located in the support range of $87-89, which has turned from a breakthrough to support. The bearish defense line is at the resistance zone of $97.1-98.5, coinciding with the position of the 200-day moving average. It is noteworthy that the trading volume significantly increased during the breakout, with buying momentum strengthening. If the weekly close is above $90, the LTC market structure will officially turn bullish.

Technical analysis shows that LTC is currently exhibiting a strong upward trend. If it can maintain a firm stance above the $90 support level, it may initiate a new round of rise. However, investors should closely monitor the resistance near the 200-day moving average, as this position could be key in determining the future market direction.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.