How High Can Litecoin Go This Cycle? Expert Gives Prediction for BTC and DTX Exchange

With the tariff war settling down, the cryptocurrency market is preparing for another leg up. After a 42% rally in 2024, Litecoin (LTC) remains overshadowed by its parent, Bitcoin (BTC). While Bitcoin price touched a continuous new all-time high, Litecoin is still trading 72% below its highest peak. Moreover, analysts project that LTC could surge higher if it gets support from the broader market.

However, amid the correction, savvy investors are investing in high relative strength coins like DTX Exchange (DTX), which has risen 700% in its token presale and has finally reached the final stage. While BTC’s technical charts hint at a potential reversal, DTX’s hybrid platform attracts global traders with multi-asset trading and high leverage.

Bitcoin Price Prediction: Bulls Target $120,000

For over two months now, Bitcoin price has oscillated between $91,500 and $106,242, having a market cap of $1.9 trillion at the time of writing. In the recent market correction, BTC retested the lower range of this box pattern. However, bulls took charge, taking above the $96,000 support level. Currently, the Bitcoin price is trading at $97,482, with a decline of 6.40% in the previous seven days.

Source: CoinMarketCap

An hourly chart illustrates that the Bitcoin price is trading in a reducing wedge pattern, and the pivotal resistance area is at a place very close to $99,500. The Bitcoin price Relative Strength Index (RSI) is hanging around 44, which indicates a state of balance between bulls and bears. The price may rise again if the resistance of $99,500-$100,000 is broken and the Bitcoin price could establish a new target.

Grayscale Files Application to List Litecoin Investment Product

Grayscale Investments has submitted a petition to the SEC requesting the conversion of its Grayscale Litecoin Trust (LTCN) to an Exchange-Traded Product (ETP), which will thereafter be registered on NYSE Arca. The implementation of this action, if approved, would be a chance for the investors to have a more controlled and liquid way to invest in Litecoin (LTC).

Recently, the SEC also took an important step toward approving new crypto ETFs that track assets like Litecoin. On Thursday, the commission acknowledged several crypto ETF applications, including Grayscale’s filing for a Litecoin ETF and BlackRock’s proposal to allow in-kind creations and redemptions for its iShares Bitcoin ETF.

Litecoin has shown stron

Go to Source to See Full Article
Author: Crypto Daily

Did you like this?
Tip BTC Newswire with Cryptocurrency