💪 Litecoin Bulls Take Charge — $200 Target in Sight

Litecoin (LTC) has broken out of an ascending channel, signaling potential for a sharper rally. The price surged past $133 on Wednesday, backed by record-breaking Open Interest (OI) and a rising hashrate — both bullish indicators that could drive the next leg up toward $200.

Litecoin Open Interest Hits $1.27 Billion

According to CoinGlass, LTC futures Open Interest soared to an all-time high of $1.27 billion, up from $832 million at the beginning of August. This jump suggests fresh capital is flowing into the market, a sign of increased buying pressure and investor confidence.

Meanwhile, Litecoin’s hashrate continues to climb steadily, reflecting growing mining activity and stronger network security — both of which reinforce positive sentiment around the asset.

Traders Back the Rally

Long positions in LTC have grown, with CoinGlass showing a long-to-short ratio of 1.08 — the highest it's been in the past month. This points to increasing bullish bets among traders.

Next Stop: $200

LTC broke above a parallel ascending channel, which had been forming since mid-March. According to technical analysis, the breakout suggests a potential move up to $200, based on the height of the channel projected from the breakout point.

Before reaching $200, LTC might encounter resistance near the December 5 high of $147, where some traders could look to take profits. On the downside, any pullback may find support around $125 — the upper boundary of the former channel.

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