In the past day, Litecoin (LTC) nudged up by 2.1%, settling at $111.87 and shattering the $90 ceiling that had long stood in the way. This spike unfolded amid global markets wrestling with escalating geopolitical tensions and a dynamic macroeconomic backdrop.
During early trading, LTC briefly soared beyond the notable psychological barrier of $90. Although a slight pullback followed, the prevailing pattern of ascending lows keeps the bullish case intact.
The rally’s fuel can be traced to broader economic currents. Fresh tariff announcements by President Trump unsettled markets, injecting a dose of unpredictability into the short-term forecast.
Meanwhile, inflation rates in the eurozone slipped beneath the European Central Bank’s target, intensifying speculation about potential rate reductions soon. Such shifts tend to rekindle investors’ hunger for assets with higher risk profiles.
According to recent data, Litecoin’s average daily trading volume has increased by over 15% in the last week, underscoring growing market interest. Additionally, the cryptocurrency’s 30-day volatility index remains moderately elevated at 4.2%, hinting at persistent price swings.
Dissecting the Technical Landscape
- CoinDesk Research’s technical indicators reveal Litecoin anchoring itself firmly, showing resilience amid fluctuating market forces.
- An essential support zone crystallized near $87.90, marked by notable surges in trading volume during pivotal timeframes. Observers identified a double top formation around $89.60, followed by a dip to $89.20 before bulls reclaimed momentum.
- Market activity settled into consolidation at approximately $89.32 by session’s end, suggesting traders are processing recent volatility.
- Should these support benchmarks hold steady, Litecoin appears poised for fresh pushes to surpass and secure territory above the $90 mark shortly.
