💪 LTC Bulls Eye $200 — Momentum Building Fast

Litecoin has broken out of its ascending channel, signaling a potential acceleration toward higher levels. The breakout pushed prices above $133 on Wednesday, supported by record Open Interest (OI) and a stronger hashrate—both bullish signs for the network and price action.

Record Open Interest at $1.27B

According to CoinGlass, Litecoin futures OI surged from $832M in early August to an all-time high of $1.27B. This spike points to fresh capital entering the market, likely fueling further gains.

Network Strength on the Rise

Litecoin’s hashrate continues to climb, enhancing mining power and overall security—key factors boosting investor confidence. Bullish sentiment is also reflected in the LTC long-to-short ratio, now at 1.08, the highest in a month.

Targeting $200

Breaking above the mid-March ascending channel pattern gives a technical target around $200. Before that, immediate resistance looms at $147 (December 5 high), where some profit-taking could occur. If prices pull back, the $125 zone—aligned with the channel’s upper boundary—may act as support.

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