Litecoin Price Swings: Traders Capitalize on Volatility
1min read Litecoin price swings have presented traders with opportunities to capitalize on market movements. The cryptocurrency has been trading within a range of $90 to $130 over the past three months, with price swings to either side triggering aggressive responses from traders.
According to market intelligence platform IntoTheBlock, Litecoin traders have been actively buying and selling the cryptocurrency during these price swings. This pattern has helped keep Litecoin trading within the established range.
In recent months, Litecoin's price has experienced significant volatility. In early December 2024, the cryptocurrency rose above $144, only to be pulled back down to lows of $87 by December 20. Bulls attempted a rebound from the psychological support level of $100, hitting resistance at $128. In late January and early February, Litecoin's native token plummeted to lows of $80, but a daily close above $100 allowed buyers to attack key resistance levels and hit highs near $140 on February 16. However, sell-off pressure amid Bitcoin's dip means bulls are looking to hold onto support near $120.
Developments around Litecoin spot exchange-traded funds (ETFs) and broader market conditions have catalyzed upswings or downswings in the cryptocurrency's price. The SEC's acknowledgment of LTC spot ETF applications from various issuers saw the altcoin's price soar. However, crypto and equities' reactions to news and events have seen prices fall sharply. This includes the DeepSeek AI news and recent Fed chair Jerome Powell's comments. Litecoin has pared gains alongside BTC and other top altcoins.
