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Litecoin price surges 12% to $120 amid crypto market rally; check forecast

  • Litecoin price jumped more than 12% to break above $120.
  • Gains came amid a broader crypto market bounce that also saw Bitcoin and Ethereum hit highs of $118,500 and $4,300.
  • ETF speculation, treasury strategy bets and overall macroeconomic conditions suggests LTC price could see a new all-time high in this bullish cycle.

Litecoin (LTC) price has retested the $120 mark amid a broader cryptocurrency market bounce.

As Bitcoin and Ethereum led the significant charge with gains of 5%, LTC saw a more than 12% spike to hit intraday highs of $121.

With sentiment increasingly optimistic amid a landscape likely to offer key tailwinds, Litecoin could be looking at a rally to highs last seen in 2021.

Litecoin price retests key level of $120

Litecoin’s rebound in the past 24 hours and past week aligns with the broader market’s uptick.

On Thursday, as macro factors helped BTC jump above $118,500, LTC saw its own upward flip. BTC price is eyeing the $120,000 mark.

Having broken from lows of $104 on Sept. 30, the altcoin continued higher to extend gains above $110. This saw bulls race to the crucial level of $120, an area likely to offer resistance as bears eye strengthening.

But the double-digit gain of over 12% in 24 hours, accompanied by trading volume spiking to over $1.3 billion, signals bullish strength.

LTC price prediction: How high can Litecoin jump amid ‘Uptober’ sentiment

The cryptocurrency community is buzzing amid calls for “Uptober”, a moniker referencing the cryptocurrency market’s historically bullish October periods.

As LTC targets fresh momentum, bolstered by a broader market cap recovery to $4 trillion, analysts project new multi year highs contingent on key catalysts like ETF approvals and macroeconomic shifts.

Filings for Litecoin spot ETFs from Grayscale, Canary Capital, and CoinShares are awaiting a green light from the SEC. Treasury plays like MEI Pharma are also adding to optimism.

On the technical front, LTC is pointing to a potential symmetrical triangle pattern breakout.

The upper boundary provided notable resistance earlier in the year, and bulls are looking to accumulate near this hurdle.

Successful bounce past this mark highlights a potential explosion to a new all-time high for LTC. Buyers could even set sights on $700-$1.000 in the current bullish cycle. Crypto analyst Captain Faibik shared a similar outlook on X.

This retest at $120 thus serves as a litmus test for whether the current bounce is a fleeting rally or the onset of a sustained uptrend.

If the threshold holds, particularly amid overall market upside, the Litecoin price could eye the first target of $200 in the coming weeks.

The post Litecoin price surges 12% to $120 amid crypto market rally; check forecast appeared first on CoinJournal.

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Thailand plans wider crypto ETFs, regulator seeks stronger powers

  • Current options limited to direct tokens or overseas funds.
  • Binance and Kasikornbank driving crypto expansion in Thailand.
  • SEC pushes bill for stronger oversight and enforcement powers.

Thailand is preparing to expand its cryptocurrency exchange-traded fund (ETF) plans to cover a broader range of tokens beyond Bitcoin, with the rollout expected in early 2025.

The move, led by the Securities and Exchange Commission (SEC), comes at a time when the Thai stock market has fallen 7.6% this year, prompting regulators and institutions to explore digital assets as alternative investment options.

Alongside this expansion, the SEC is also pushing a bill to strengthen its oversight of the financial sector, including faster enforcement powers against insider trading and irregularities.

Thailand moves beyond Bitcoin ETFs

The Thai SEC has confirmed that rules are being drafted to enable mutual funds and institutions to launch ETFs that include baskets of cryptocurrencies instead of focusing only on Bitcoin.

Currently, Thai investors can only gain exposure through direct token purchases or by investing in asset managers that channel funds into overseas cryptocurrency ETFs.

The new initiative would make it possible for local products to track multiple assets at once, increasing the supply of investment options available to the market.

The regulator highlighted that younger investors are showing growing demand for crypto exposure in their portfolios as a form of diversification.

By broadening access, the SEC aims to respond to this demand while creating frameworks for safe investment vehicles that can be integrated into mainstream financial markets.

Crypto push accelerates across Thailand

Momentum in Thailand’s digital asset sector has grown steadily throughout 2024. Major international and domestic players, including Binance Holdings Ltd. and Kasikornbank Pcl, are targeting further growth in the local crypto space.

Former Prime Minister Thaksin Shinawatra, regarded as a key figure in shaping the country’s economic direction, has been one of the most vocal supporters of crypto adoption, signalling political alignment with the sector.

The expansion of ETF products fits into broader efforts by the government and financial institutions to position Thailand as a regional hub for digital assets.

With tokenised investment products increasingly viewed as mainstream alternatives, the push could attract investors who are shifting away from underperforming traditional markets.

New bill to strengthen oversight

At the same time, the SEC is advancing a new bill designed to increase its powers in monitoring capital markets. If passed, the legislation would allow the regulator to suspend major transactions in cases where financial irregularities are detected.

It would also give the SEC authority to directly investigate insider trading and other market-impacting misconduct, instead of relying primarily on police resources.

The draft has already been cleared by the prime minister’s law-drafting body and is now awaiting parliamentary discussions.

According to the SEC, the goal is to speed up enforcement against wrongdoers and restore investor confidence in the fairness and stability of Thailand’s markets.

Balancing growth and risks

While the expansion of ETFs is expected to support investor participation in crypto assets, regulators are aware of the risks tied to volatility and market manipulation.

The new framework is being designed to ensure that investor protection measures are in place alongside broader access to products.

By combining market development with stronger enforcement mechanisms, the SEC aims to create a regulatory balance that supports growth without undermining financial stability.

The success of these measures will depend on how effectively institutions can launch diverse ETF offerings, how the public responds to new investment opportunities, and whether the oversight bill is passed into law.

Together, these initiatives mark one of Thailand’s most comprehensive moves yet to integrate crypto into its financial system.

The post Thailand plans wider crypto ETFs, regulator seeks stronger powers appeared first on CoinJournal.

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Dogecoin price outlook: golden cross, whale accumulation and $1 target on the horizon

  • Dogecoin (DOGE) forms a golden cross after defending key $0.22 support.
  • Whales accumulate 450M DOGE as bearish pressure eases.
  • Analysts see $0.33–$0.37 targets with $1 possible by 2026.

Dogecoin (DOGE) has returned to the spotlight after weeks of consolidation, with technical signals and on-chain activity painting a bullish picture for the popular memecoin.

Once seen just as a playful digital token, DOGE now commands a market capitalisation of nearly $39 billion and continues to attract both retail and institutional attention.

Golden cross sparks optimism

One of the most striking developments on Dogecoin’s chart is the formation of a golden cross, a technical pattern that occurs when a short-term moving average climbs above a longer-term one.

Historically, such a formation has preceded strong rallies in both Dogecoin and the broader altcoin market.

Dogecoin price analysis
Source: CoinMarketCap

In addition, DOGE recently defended its $0.22 support zone, where the 0.618 Fibonacci retracement level intersects with the point of control, and has since been on a bullish trend.

Momentum indicators also support this outlook, with a hidden bullish divergence being confirmed on the Relative Strength Index (RSI), while the MACD lines are close to a bullish crossover.

These signals suggest that buyers are slowly regaining control of the market and that a continuation of the uptrend could follow.

The immediate hurdle remains the resistance around $0.2737, with a successful breakout potentially opening the path to $0.37 in the short term.

Whales accumulate DOGE as pressure eases

On-chain data shows that large holders have been quietly accumulating Dogecoin during recent pullbacks.

Santiment’s supply distribution figures reveal that wallets holding between 100,000 and 1 million DOGE tokens, along with those in the 10 million to 100 million range, accumulated about 450 million tokens in late September.

At the same time, mid-sized holders reduced their positions, suggesting some capitulated while stronger hands seized the opportunity to buy at lower prices.

This accumulation has been accompanied by a shift in sentiment in derivatives markets.

The long-to-short ratio on Coinglass has risen above one, indicating that more traders are betting on upside rather than further declines.

Dogecoin long-short ratio
Source: Coinglass

Dogecoin price outlook: key levels to watch

After months of pressure and a 23% decline from its September peak, Dogecoin (DOGE) appears to have stabilised and is regaining momentum.

With bearish pressure fading and buyers stepping in, market conditions appear more favourable for a breakout.

The bullish technical signals, on-chain accumulation by whales, and improving sentiment in the derivatives market all point toward a bullish outlook.

And while risks of volatility remain, the alignment of bullish indicators has revived the debate over whether Dogecoin could stage another breakout.

A decisive close above $0.256 would confirm strength and increase the chances of a rally toward the $0.311 resistance zone.

And should momentum continue, a push through $0.2737 could pave the way for higher targets that analysts have pointed out, including $0.37.

On the downside, a failure to hold current levels could see DOGE retest $0.22, and in a deeper correction, the price could revisit $0.18.

However, positive readings from the Chaikin Money Flow (CMF) index suggest that selling pressure is not overwhelming, reducing the likelihood of a significant breakdown.

The post Dogecoin price outlook: golden cross, whale accumulation and $1 target on the horizon appeared first on CoinJournal.