Litecoin price has jumped 13% over the past 24 hours to trade above $70 on September 24, as a surge in network activity and trading volume helped LTC break through a resistance area that had capped its previous recovery attempts.
CoinGecko data showed Litecoin trading near $70.84 at the time of writing, after falling as low as $59.11 during the period.
LTC has gained 34.7% over the past seven days and 38.6% over the past month, while its one year return remained negative at 33.1%.
The latest move has stood out as Bitcoin and much of the crypto market traded under pressure.
Litecoin first recovered above $60 before buying picked up around $64 to $65, an area that had blocked earlier attempts to move higher.
A break above the zone pushed LTC through $67 and $68 before the price crossed $70.
Network activity has risen alongside the price. More than 17 million LTC worth roughly $1 billion moved across the Litecoin network within a day, while the blockchain processed around 158,500 transactions over 24 hours.
Litecoin’s hashrate was near 2.7 PH/s after rising roughly 4.9% over the preceding 24 hours.
The surge in onchain activity came as LTC approached the $64 to $65 resistance zone, giving traders a network based catalyst while the price was preparing to break out.
Trading activity accelerated once that resistance gave way. Spot volume climbed towards $948 million, roughly three times the level recorded around September 18, as buyers pushed LTC through several price levels in quick succession.
The current situation looks like a high volume technical breakout and rotation into Litecoin while much of the crypto market remains under pressure.
The combination of strong spot participation and the break above $65 helped turn an existing recovery into a much faster price move.
The uptick was supported by increased activity across the derivatives market. Litecoin futures open interest crossed $500 million as LTC broke through resistance, indicating that traders were adding leveraged positions during the move.
As LTC climbed towards $67.80 earlier in the session, short positions were liquidated across major exchanges while long liquidations remained comparatively small.
Forced buying from short liquidations can accelerate a move when the underlying spot price is already rising.
The 24 hour liquidation heatmap shows LTC moving through several concentrations of leveraged positions during its climb from around $60 to above $70.
Remaining liquidity is concentrated around $72, with several clusters extending towards $74 to $74.50.
A move through these levels could trigger further short liquidations and add buying pressure as traders are forced to close bearish positions.
Below the current price, liquidity is visible around $69 to $70, followed by a denser concentration between $64 and $66.
A drop into these areas could expose leveraged long positions to liquidations and add selling pressure to a pullback.
LTC price analysis
Litecoin’s daily chart shows the price breaking decisively above the upper Donchian Channel after several weeks of higher lows.
LTC was trading near $71.88 at the time of analysis, while the 21 day upper Donchian boundary stood at $63.23 and the lower boundary at $50.74.
LTC/USDT 4-hour price chart. Source: TradingView.
Price has moved more than 13% above the upper boundary, with the breakout accompanied by the largest daily volume bar visible on the recent chart.
LTC had previously struggled around $63 to $65, making that area the first major level to watch if the current move retraces.
The Directional Movement Index supports the strength of the daily trend. ADX stood at 45.83, well above the 25 level commonly associated with a strong directional move.
Positive DI was at 41.76 compared with negative DI at just 8.64, leaving buying pressure firmly ahead of selling pressure.
Neither reading sets a price target on its own, but the combination of a Donchian breakout, rising volume, and an ADX above 40 supports the strength of the move through $65.
A daily move back below the $63.23 Donchian boundary would weaken the breakout structure, while holding above $65 would keep the former resistance area beneath the price.
The 4-hour chart shows how quickly momentum has accelerated. LTC’s nine-period Rate of Change has risen to 13.04, meaning price has moved sharply higher compared with nine 4-hour periods earlier.
ROC remained positive through much of the latest leg higher before accelerating with the move above $70.
The 14-period Average True Range has climbed to 2.62 from below $1 earlier in September, showing that the average trading range of each 4-hour candle has widened considerably.
Larger intraday swings are therefore more likely while ATR remains elevated, even if the daily trend stays intact.
The immediate upside area sits between $72 and $75.
LTC has already traded as high as roughly $72 during the latest move, while the liquidation heatmap contains liquidity around $72 and further clusters towards $74 to $74.50.
A sustained break through that zone would put $75 within reach.
Failure to hold $70 could send LTC back towards $68 to $69, where price consolidated during the latest intraday move and where the heatmap shows leveraged liquidity.
A larger pullback would bring $64 to $66 back into focus, overlapping the previous breakout area and a dense band of liquidation levels.
The daily Donchian boundary near $63.23 provides a clear invalidation level for the current breakout.
A daily close back below that area would place LTC inside its previous trading range, while continued closes above $65 would leave the breakout intact as traders test the liquidity concentrated between $72 and $74.50.
With short positions still being squeezed on the way up, crypto exchanges are likely to see continued volatility around these levels.
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