LTC News: Litecoin Surges 19% Amid ETF Speculation, Ethereum Faces Challenges

Litecoin has recently experienced a notable surge, gaining 19% due to ETF speculation and reaching a milestone of 300 million transactions. Meanwhile, Ethereum is facing pressure as Solana overtakes it by 31% this year, signaling potential shifts in the cryptocurrency market.

Litecoin Surges 19% Due to ETF Speculation, Ethereum Faces Challenges

Litecoin experiences a significant surge of 19% amid ETF speculation, achieving 300 million transactions. Ethereum, on the other hand, faces pressure as Solana surpasses it by 31% this year, indicating a potential shift in the cryptocurrency markets.

Altcoins Gain Strength as Crypto Market Shows Signs of Recovery

The cryptocurrency market is showing signs of recovery after a significant correction in February, with altcoins leading the charge. The total crypto market cap has bounced off the $3 trillion mark, indicating a potential end to the recent decline. Despite a rejection at $425 billion, the altcoin market capitalization pullback has been much shallower than previous downturns, suggesting bulls are slowly taking charge. Technical analysis underscores the importance of this rebound, with several altcoins gaining strength.

Litecoin Price Forecast Suggests a Rally Ahead

Litecoin price trades higher on Monday after retesting its key support level the previous week. The technical outlook and LTC’s long-to-short ratio suggest a rally ahead. However, traders should remain cautious as LTC’s Network Realized Profit/Loss (NPL) metric spiked, indicating holders are taking some profit, which could increase the selling pressure.