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Litecoin Price Holds the Line at $110 as Altcoin Treasury Narrative Heats Up
LTC price steadies at $110 while traders eye a breakout to $150 amid renewed interest in older, stable altcoins.
The Litecoin price has held its ground at the crucial $110 mark, amidst growing excitement surrounding the altcoin treasury narrative. As of press time, the asset trades at $107.82, down 1.13% in 24 hours and 10.13% this week, per CoinGecko data.
It appears that Litecoin’s prolonged period of stagnation has sparked renewed interest among investors, particularly those favoring older and more distributed assets. This narrative shift could be a crucial catalyst for the asset to finally break its long-standing range.
In recent weeks, Litecoin has demonstrated remarkable stability, with prices oscillating within a tight range between $50 and $115. According to Daan Crypto Trades, this 3.5-year consolidation period has built an incredibly deep support base around the $100-$110 zone. A breakout above the $150 mark could unlock significant upside potential for the asset.
As Litecoin’s 50-day EMA crosses over its 200-day EMA, a bullish signal is emerging. Meanwhile, low-volume accumulation has dominated for months, but a recent spike hints that buyers are entering the fray.
Daan Crypto Trades recently noted that Litecoin is not a coin for hype-chasing, emphasizing the need for investors to approach this asset with patience and caution. This viewpoint aligns perfectly with the asset’s historical range-bound behavior, as it seeks to retest previous highs.
With Litecoin trading at $107.82, many traders are now eyeing the critical $150 level as the threshold to unlock a significant move higher. If the price manages to clear this hurdle, long-term players may be enticed to join the action, especially those drawn to more established and decentralized assets.
In conclusion, Litecoin’s price holding at the pivotal $110 mark, while the altcoin treasury narrative gains traction, may signal the start of a new phase in its trajectory.
Source: blockonomi.com
