In a week that could only be described as a veritable rollercoaster of financial absurdity, Litecoin, Jito, and Bittensor have gallantly added between 17% and 22% to their values. This miraculous feat, as reported by the ever-reliable CoinGecko, is largely attributed to Bitcoin‘s stubborn resilience and the market-wide recovery that has allowed these altcoins to bask in the glow of newfound wealth. Who knew digital coins could be so dramatic? 🎭
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Litecoin, Jito and Bittensor extend rallies on Friday
On this fine Friday, our trio of heroes—Litecoin (LTC), Jito (JTO), and Bittensor (TAO)—have decided to add a little more sparkle to their value after a week of double-digit price rallies. The Bitcoin fork (LTC), the Solana-based token (JTO), and the AI token (TAO) have outshone most of their altcoin counterparts, securing their places within the top 100 cryptocurrencies by market capitalization. Bravo! 👏
As Bitcoin continues to strut its stuff in the face of hot U.S. CPI, Trump tariff announcements, and other delightful macroeconomic developments, our altcoin friends are recovering from their recent corrections, much like a cat that has just fallen from a great height. 🐱
On this day, LTC gained a modest 2.53%, while JTO and TAO added 5.68% and 2.98% to their value, respectively, according to the ever-watchful TradingView data.
On-chain and technical analysis
According to the ever-astute Santiment data, total open interest in USD for Litecoin has climbed steadily to a staggering $416.87 million by Friday. The Network Realized Profit/Loss metric, which sounds far more complicated than it actually is, indicates that traders are indulging in a bit of small-scale profit-taking. How quaint! 🤑
The funding rate across exchanges remains positively buoyant, as illustrated in the chart below.
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Bittensor, on the other hand, has maintained a steady volume, with a few positive spikes to keep things interesting. However, a recent negative spike in funding rates suggests that traders might want to keep their eyes peeled as derivatives traders turn bearish on Bittensor. Oh dear! 😬
Looking ahead, Litecoin could extend its gains by nearly 10% next week, attempting a re-test of the 2025 peak of $141.22, as observed in the LTC/USDT daily price chart. The two momentum indicators, RSI and MACD, are waving their flags in support of Litecoin’s potential gains.
RSI reads a rather optimistic 62 and is sloping upwards, while MACD is flashing green histogram bars above the neutral line, indicating a positive trend. How delightful! 🌈
In the event of a correction, Litecoin could find support in the Fair Value Gap (FVG) between $109.18 and $117.81
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2025-02-15 01:18