Litecoin (LTC) price has surged more than 12% in the last 24 hours as Nasdaq filed an application to list Canary Capital’s Litecoin ETF. This rally has been fueled by bullish technical signals, including a golden cross formation and a significant rise in buying pressure, as reflected in key momentum indicators.
LTC’s RSI has climbed into overbought territory, and its CMF is at its highest level since December 2024, signaling strong accumulation by investors. With momentum building, LTC could test key resistance levels, potentially reaching its highest price in over a month if the uptrend continues.
Litecoin RSI Indicates Overbought Conditions
Litecoin RSI (Relative Strength Index) has climbed quickly, currently sitting at 75.4, up from 24.4 just four days ago. Yesterday, it peaked at 83.5, entering overbought territory for the first time since December 3. The RSI is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100.
Typically, an RSI above 70 indicates overbought conditions, suggesting the asset may be overvalued and due for a correction, while an RSI below 30 signals oversold conditions, potentially indicating undervaluation.
With Litecoin RSI currently at 75.4, the asset is still in overbought territory. This could signal a cooling-off period or short-term pullback if momentum slows. However, strong bullish momentum often keeps the RSI elevated for extended periods, suggesting the possibility of continued upward movement.
If buying pressure persists, LTC price could see further price gains before any significant retracement occurs, but traders should watch for signs of weakening momentum to anticipate potential corrections.
