Litecoin, Jito and Bittensor Extend Rallies on Friday

Litecoin (LTC), Jito (JTO) and Bittensor (TAO) added to their value on Friday after seven days of double-digit price rallies.

Cryptocurrency prices continued to recover on Friday, as U.S. inflation data came in hotter than expected. However, macroeconomic concerns did not deter traders from piling into select altcoins, with Litecoin (CRYPTO: LTC), Jito (CRYPTO: JTO) and Bittensor (CRYPTO: TAO) adding to their gains.

What Happened: Litecoin, Solana-based token Jito and artificial intelligence token Bittensor added to their value on Friday after seven days of double-digit price rallies.

The Bitcoin fork, Solana-based token and AI token outperformed most altcoins, ranking within the top 100 cryptocurrencies by market capitalization.

As Bitcoin price showed resilience in the face of hot U.S. consumer price index (CPI) print, Trump tariff announcements and other macroeconomic developments, altcoins recovered from the correction alongside the world’s largest cryptocurrency.

LTC price gained 2.53%, and JTO and TAO added 5.68% and 2.98% to their value on the day, as per TradingView data.

On-Chain, Technical Analysis

Total open interest in USD for Litecoin climbed steadily in the past week to reach its highest level on Friday, at $416.87 million, Santiment data showed.

The Network Realized Profit/Loss metric, used to determine the net realized profit/loss of all tokens moved on the chain on a given day, showed small-scale profit-taking by traders.

The funding rate across exchanges remained positive, as observed in the chart below.

Total open interest in Jito climbed, similar to Litecoin, this week.

There was a spike in social dominance, meaning the token became more relevant among traders and market participants.

Trade volume climbed and the Solana-based token rallied in response to demand from institutional and retail traders.

Bittensor on-chain data showed volume held steady, at the average level, with a few positive spikes in the last week.

Total open interest recorded a spike on Feb. 11, as seen in the Santiment chart below.

Funding rates data showed a negative spike on Friday, meaning traders need to keep their eyes peeled as derivatives traders turned bearish on the Bittensor, on Friday.

Price Analysis

Litecoin could extend gains by nearly 10% next week, attempting a re-test of the 2025 peak of $141.22, as observed in the LTC/USDT daily price chart.

Two momentum indicators, Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), supported gains in Litecoin.

RSI read 62 and was sloping upwards, MACD flashed green histogram bars above the neutral line, indicating an underlying positive trend in LTC price trend.

Support could be found in the Fair Value Gap (FVG) between $109.18 and $117.81, in the event of a correction.

Solana-based JITO could test resistance at R1, the Dec. 16 peak at $3.841.

The next key resistance was December 2024 high and R2 at $4.340.

JTO’s long-term price target was the 2024 high of $5.330, observed on the JTO/USDT daily time frame.

RSI and MACD supported further gains in the token.

Support could be found in the FVG between $2.694 and $2.920 if there was a decline in altcoin prices.

TAO could rally nearly 13% to test resistance at the upper boundary of an imbalance zone on the daily price chart, at $445.60.

TAO could find support at $341.50, a support level that held steady for several weeks now.

RSI was sloping upward and MACD flashed green histogram bars above the neutral line.

There was an underlying positive momentum in TAO price trend on the daily timeframe.

Market Movers

Senior ETF analyst for Bloomberg, Eric Balchunas, tweeted about the odds of approval of a Litecoin ETF.

Balchunas said Litecoin led the likelihood of an ETF approval, with a 90% chance.

Solana followed Litecoin closely.

Balchunas explained that the experts calculated the odds only for “33 Act IBIT-esque filings.”

Balchunas believed that futures or Cayman-subsidiary type 40 Act products could get approval as well.

Our official alt coin ETF approval odds are out. Litecoin leads w 90% chance, then Doge, followed by Solana and XRP. We are only doing for 33 Act $IBIT-esque filings. But def poss to see futures or Cayman-subsidiary type 40 Act stuff get through as