Is the price of Litecoin poised to surge, or is it facing too much resistance?

This has highlighted the value of BlockDAG (BDAG). The X1 Miner App from BlockDAG has attracted over 500,000 users, enabling them to mine BDAG coins each day

Litecoin prices currently stand at $124.13, encountering resistance despite growing market interest. Traders are watching closely to see if LTC can break above the $130 mark, a level that could signal more gains.

While Litecoin has lagged behind other major cryptocurrencies such as Bitcoin and Ethereum, there’s hope tied to rumors of a possible Litecoin ETF approval by the SEC. Analysts believe such news could significantly boost Litecoin’s value.

However, Litecoin’s price action remains largely influenced by the broader crypto market volatility. Some traders are turning to alternatives like BlockDAG, known for its mining perks via the X1 app. Observers of top altcoins are also keeping an eye on Solana, which has recently shown signs of stronger performance.

If Litecoin manages to gain good traction, traders could set their sights on $150, but for now, the focus remains on overcoming the current resistance levels.

On the other hand, Hedera continues to show a bearish trend, with HBAR down 22% in August and struggling to maintain crucial support levels.

Technical analysis signals suggest a slight softening in the downtrend, but sellers are still in control as long as the price stays below the Ichimoku Cloud. The Average Directional Index (ADX) has decreased from 28.9 to 23, indicating that the selling pressure might be reducing, although it’s still too early to say if a bottom is in sight.

Unless Hedera can rally back to recover the 200-pivotal at $0.248, it might face further drops to reach the next support at $0.179, keeping hopes for a swift rally slim.

As the market awaits any signs of recovery in Hedera’s price action, attention is also shifting towards other investment opportunities. Litecoin faces a tough battle to break through the strong resistance at $130, buoyed by ETF speculations.

Some traders are shifting their focus to BlockDAG, which is attracting a large and active community of miners. If Hedera’s bearish momentum persists, HBAR might remain largely range-bound until fresh buying interest emerges.

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