LTC (Litecoin) has risen 10.90% in the last 24 hours.

Gate News Bot news, August 5th, according to CoinMarketCap, as of the time of writing, LTC (Litecoin) is currently priced at $122.65, with a rise of 10.90% in the last 24 hours, reaching a high of $123.01 and a low of $103.75, with a 24-hour volume of $1.494 billion. The current market capitalization is approximately $9.34 billion, an increase of $918 million from yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, nearly zero-cost global payments. As an open-source global payment network, Litecoin is completely decentralized with no central authority. The network is secured by mathematics and gives individuals control over their finances. Compared to leading mathematically-based currencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With strong industry support, volume, and liquidity, Litecoin has proven to be a strong complement to Bitcoin.

Important news about LTC recently:

1️⃣ LTC price breaks through the 90 dollar mark Litecoin has shown strong recent performance, successfully breaking through the key resistance level of 90 USD. This breakthrough has opened up further upward space for LTC, attracting more investor attention. The current price is close to 123 USD, demonstrating strong upward momentum.

2️⃣ Technical indicators show oversold signs Despite the recent significant rise in LTC prices, technical analysis indicators suggest that the market may be in an oversold condition. This implies that a pullback may occur in the short term, and investors should remain vigilant. However, from a medium to long-term perspective, the current price may still be seen as a potential buying opportunity.

3️⃣ Market expectation LTC target price adjustment With the strong performance of Litecoin prices, market analysts have begun to raise their target price for LTC. Some opinions suggest that LTC is expected to challenge higher price levels above 100 dollars, and may even reach a new high of around 123 dollars. This optimistic expectation further boosts market sentiment.

From a technical perspective, LTC has rapidly pumped after breaking through the $90 mark, showing strong upward momentum. However, indicators like RSI are nearing the overbought zone, which may pose a risk of a pullback in the short term. Investors should closely monitor the performance of key price levels such as $100 and $123 to assess the market direction going forward.

This message is not an investment advice; investors should be aware of market volatility risks.