💪 LTC Bulls in Command — Eyes on the $200 Target 🚀
Litecoin (LTC) has broken out of its ascending channel pattern, signaling the potential for an accelerated rally. Trading above $133 as of Wednesday, the breakout comes alongside a surge in Open Interest (OI) and a rising hashrate — both strengthening the bullish outlook.
📈 Open Interest Hits Record High
According to CoinGlass, LTC futures OI soared to a record $1.27 billion, up from $832 million in early August. This jump shows fresh capital entering the market, fueling buying pressure and supporting higher prices.
⚡ Strong Network Fundamentals
Litecoin’s hashrate continues to climb, boosting mining power and improving network security — a factor that often increases investor confidence. Coinglass data also shows a long-to-short ratio of 1.08, the highest in a month, reflecting growing bullish positioning.
🎯 Technical Outlook
The breakout above the channel suggests an upside target near $200, based on the pattern’s measured move. Before that, bulls may face resistance around $147 (December 5 high). On the downside, immediate support lies near $125 at the upper boundary of the former channel.
If momentum holds, Litecoin could be on track for its biggest rally in months — with $200 in sight.