The cryptocurrency market faced challenges in the first half of the month but regained strength by mid-October. Litecoin stands out by reaching its July high.

LTC Price Surge

After trading within an ascending channel since August, Litecoin regained momentum by breaking its resistance line during the early Asian trading hours. Currently, Litecoin is listed at $75.34, with an intraday jump of 4.52% and a trading volume of $337.43 million. It has surged 13.27% over the past week and 15.56% in the past 30 days.

Record Activity in the Litecoin Market

Increased volatility has led to Litecoin's activity reaching a 16-month high, surpassing $4 billion in intraday trading volume. The introduction of new policies and ecosystem adoption continues to gain significant traction for Litecoin, which has successfully breached $70 and is now preparing to retest its target price of $100.

Will LTC Reach $100 This Quarter?

Should bulls continue dominating the crypto space, Litecoin’s price could retest its resistance level of $78.80. Sustaining above that level might pave the way for reaching the upper resistance of $90.75 in due time. Conversely, a bearish reversal might see the LTC coin drop to its support level of $67.40.

Litecoin shows significant growth and garners attention from crypto market participants. Should the current positive trend continue, its price may reach new heights; however, market participants should be prepared for potential volatility.