Litecoin (LTC) is Showing Strength, Trading at $98 After Gaining 3.35% in the Last 24 Hours

Litecoin (LTC) is showing strength, trading at $98 after gaining 3.35% in the last 24 hours. As Bitcoin sets a new all-time high above $111,000, attention

Litecoin (LTC) price showed strength on Thursday, trading at $98 by the time of press after gaining 3.35% in the last 24 hours.

As Bitcoin (BTC) hit a new all-time high above $111,000, attention turned to altcoins, with Litecoin emerging as a likely candidate for a breakout.

One popular crypto analyst, Cal Runefelt, highlighted a bullish flag setup on the 4-hour chart in a recent X post.

The coin had already bounced off a key support around $94, which Runefelt said would give a "strong chance" for a breakout to the upside. His analysis set a price target of $117.50, which would be a 19% increase from the current price.

Another active trader known as FZ made a similar observation.

Commenting on Bitcoin’s latest surge, he said that he “really do think it’s finally time for $LTC to pump!”

His analysis also set his sights on the same $117 mark, as he expected Litecoin to capitalize on broader market momentum.

Another chart analyst, The Cryptomist, spotted a breakout from a falling wedge pattern. She confirmed that she was adding to her long position and placed her target at $115.

This adds to the chorus of traders who have been noticing Litecoin’s structure shifting in favor of buyers.

Another factor to consider is that derivatives data supports this bullish mood. In the last 24 hours, Open Interest in Litecoin has increased by 6.14%, now totaling $647.38 million.

This uptick shows more activity in futures and options trading, with more capital being deployed for potential price movement.

At the same time, the OI-weighted funding rate sits slightly positive at 0.0114% on an 8-hour chart. That means traders holding long positions are paying those shorting the asset.

Litecoin’s price now sits just under its 200-day simple moving average at $100. At the same time, it remains above the 200-day exponential moving average at $93. This area between $93 and $100 is now acting as a decision zone where the next major move could start.

The RSI, a gauge for momentum, has moved above 50. That generally reflects buying strength beginning to take hold again. If Litecoin breaks past $100, traders say the next stop could be $117.5, in line with the targets set by Runefelt and FZ.

With interest growing, technicals supportive, and futures activity increasing, Litecoin could be setting up for a stronger move. The coming days may show whether buyers have enough strength to take it through the last hurdle.