Litecoin has reached an eight-month price high, driven by a combination of institutional interest and speculative trading. Data from Coinglass shows that futures open interest has climbed to approximately $670 million, nearing the yearly peak of $690 million recorded in January. This metric has more than doubled since the lows observed in June.
According to Glassnode, open interest measured in LTC increased by roughly 25% over the past week, indicating that traders are actively opening new positions. While leverage is rising, analysts note that historical patterns show similar levels of open interest in January preceded a price decline to $53.
US spot Litecoin ETF holdings have reached a record of approximately 175 000 LTC. The LTCC fund managed by Canary Capital recently recorded its largest inflow to date, adding about 39 000 LTC. Despite this growth, the recent ETF inflow of $2.8 million remains small compared to the $270 million increase in open interest over the same period.
Technically, the price of LTC has surpassed the Fibonacci retracement levels of $62.09 and $67.47, testing the resistance zone near $75. The Relative Strength Index currently stands at 81, the highest level this year. Market participants are watching the $75 mark, as a daily close above this level could lead to further gains toward $84.89.
