Litecoin Price Prediction as 24-Hour Trading Volume Shoots Past $300 Million – Time to Buy?

cryptonews.com:

The price of Litecoin (LTC) has remained stable in the past 24 hours, with its current level of $67.70 representing a 3% gain in the past week.

LTC had risen with the rest of the market over the past couple of days after Grayscale won its appeal against the SEC, yet the altcoin remains down by 25% in the last 30 days, and by 3% since the beginning of the year. 

However, with its 24-hour trading volume remaining elevated at just above $300 million, its market is currently active and liquid enough to support further rises in the next few days and weeks.

LTC's indicators look as though they're close to a position where the altcoin's price is going to rise substantially, with its relative strength index (purple) moving up to 40 after more than a week at or below 30.

Correspondingly, Litecoin's 30-day moving average (yellow) has now fallen so far below its 200-day average (blue) that it would seem that the only way is now up, given just how oversold the altcoin has been in recent weeks.

This impression is reinforced by the fact that LTC's support level (green) has been climbing steadily since the middle of August, implying that the coin's recent descent has indeed bottomed out and that buyers are now ready to accumulate the coin again at its discounted price.

With its trading volume passing the $300 million level, it does seem that interest has risen in LTC, which benefitted a little more than other altcoins this week from the news that the SEC will be required to re-evaluate Grayscale's application for a spot Bitcoin ETF.

The approval of such an ETF could, in the future, pave the way for a similar Litecoin ETF, which is why LTC performed a little better than other altcoins earlier this week when the news broke.

Yet Litecoin has