Is Litecoin Ready for a Major 369% Price Rally Soon?

• Litecoin shows strong potential for a 369% surge after a recent breakout.
• Litecoin’s security upgrades and increased trading signal long-term growth potential.

Litecoin (LTC) is gaining traction as analysts and enthusiasts anticipate a huge price increase. Javon Marks, a well-known crypto analyst, recently tweeted that LTC’s price is poised for a major rally.

Litecoin Shows Resilience Post-Retest, Indicating Potential 369% Growth

After breaking out and going through a retest, he observed that the coin has been showing resilience, suggesting a possible increase of over 369%, which might drive LTC’s value to $354.36. Marks showed hope about this increasing trend, characterizing it as “a major, consistently bullish pace” that would indicate a protracted Litecoin rally.

Meanwhile, LTC is swapped hands at about $76.44 at the time of writing, up 15.45% over the last 7 days. The trade volume shows the trend as well; it has surged by 60% and comes to more than $823 million. This considerable rise in trading activity points to investors’ increasing interest and could help to justify the expected shift in LTC’s value.

Apart from the favorable market performance, the development team of Litecoin has unveiled major technical enhancements. A recent CNF report revealed that the team released Litecoin Core version 0.21.4, which brings improved capabilities and basic security improvements.

These improvements should increase the security and efficiency of the blockchain, so LTC is a more strong and appealing choice for both novice and experienced investors.

Furthermore, statistics show that Litecoin has been firmly establishing its preferred asset position for long-term investors. Based on long-term holding preference, recent data show that LTC ranks second only to Bitcoin—above Ethereum.

According to CNF, Litecoin, with an average holding term of 2.6 years, is progressively viewed as a solid asset for value retention over time.

Recommended for you: