Litecoin Drops 3.31% in 24 Hours, But Bulls Target $97.10

Litecoin (LTC) is currently trading at $86.01, marking a 3.31% decrease in the last 24 hours. However, it has shown a 1.90% increase over the past week. This price movement has placed Litecoin 79% below its all-time high of $410.26, but it remains over 7,300% above its historical low. The cryptocurrency holds a market capitalization of $6.54 billion, ranking it 25th globally.

Technical traders and long-term investors have recently turned their attention to Litecoin. According to analysts, LTC has broken out of a major descending resistance line, with bulls now targeting a short-term price of $97.10. This technical breakthrough has sparked renewed interest in the cryptocurrency, positioning it as a potential investment opportunity.

The mining ecosystem is also showing signs of bullish sentiment. Miners have entered an accumulation phase, indicating confidence in future price appreciation and longer-term network stability. This accumulation phase suggests that miners believe in the potential of Litecoin and are positioning themselves to benefit from its future growth.

Speculation around a possible Litecoin ETF has also resurfaced, reigniting conversations about Litecoin’s positioning as a “digital silver” asset. As spot ETFs for Bitcoin, Ethereum, and even Solana gain traction, the potential approval of a Litecoin ETF could further solidify its status as a mainstream financial product. Litecoin’s widespread acceptance for real-world payments further supports its case for mainstream financial products.

Despite falling short of market-wide performance this year, Litecoin is outperforming peers in the smart contract platform category this week, with a stronger relative price recovery. Its integration on major centralized exchanges like Binance, Coinbase, and OKX keeps liquidity high and investor access broad. As of now, the price appears to be in a consolidation zone just below resistance. A successful move above $89–$90 could push LTC into its next leg toward $100+ in Q3.