Litecoin Defies Delistings, Traders Eye $55 Target

Binance's decision to delist the LTC/BNB trading pair on August 21st has not deterred Litecoin traders, who continue to push the price higher. Despite the removal of this specific pair, users can still buy and sell Litecoin through other supported markets on Binance.

The token's price is currently trading near $52, having broken out of the $44-$45 range. The Relative Strength Index (RSI) has reached 73, indicating overbought territory and potentially signaling a slowdown in price growth soon.

However, Litecoin derivatives markets suggest that traders are still bullish on the token's prospects. With an Open Interest of nearly $197 million and a positive average funding rate of around 0.0101%, it appears that many investors are holding onto leveraged long positions.