Introduction
Litecoin (LTC) is gaining strength again after weeks of losses. Recently, its price started moving up, helped by a clear rise in daily active addresses and more activity on its network. These changes have given hope to investors. Let’s look at LTC’s price levels, the increase in activity, and what could happen next.
Key Price Levels for Litecoin
LTC is currently trading at around $110, just above its important support level of $100. In addition This level is strong because it’s backed by the 50-day moving average, which has been a solid safety net for LTC. At the same time, Litecoin is struggling to break through $120. This has been a tough resistance level. Back in December, attempts to go past $120 failed due to heavy selling. For Litecoin to keep moving up, it needs to break this barrier.
Adding to the positive signs is something called a golden cross. This happens when the 50-day moving average moves above the 200-day moving average. Furthermore It’s often a sign of more price gains. If LTC can hold its momentum and pass $120, it could open the door to a rally toward $140.
Why Active Addresses Matter
One of the best signs for LTC is the steady rise in daily active addresses. Data from IntoTheBlock shows that these addresses have been growing as LTC’s price improves. From October to December, daily active addresses increased a lot. In 2024, the average number reached 401,000, up from 366,000 in 2023. This growth shows more people are using Litecoin’s network. This increase in activity is likely due to traders wanting to take advantage of Litecoin’s recent price movements. In the past, more active addresses have often matched with price rises. Therefore this link shows how growing participation can boost Litecoin’s value.
What’s Next for Litecoin?
Looking ahead, LTC’s future depends on overcoming key challenges. However If it breaks the $120 resistance, it could trigger a stronger rally toward $140. On the other hand, failing to stay above $100 could lead to more selling pressure. LTC’s rising price and growing network activity are good signs. However, the cryptocurrency market is unpredictable. LTC’s next moves will depend on keeping its momentum and staying interesting to traders and investors.
Conclusion
Litecoin is showing signs of recovery, with rising active addresses and more network activity. Clearing the $120 resistance will be crucial for more gains, while $100 offers a strong safety net. If Litecoin can keep up its momentum, it has the potential for steady growth. However, investors should stay cautious, as market conditions can change quickly. For now, Litecoin’s activity highlights its ability to stay relevant and competitive in the crypto space.
