Litecoin Price Holds Firm Above $46 as Open Interest Swells

Litecoin (LTC) has maintained its position above $46, despite a slight decline of 0.54% in the last 24 hours. The increasing interest from derivatives traders is also noteworthy.

The daily LTC chart shows that the asset trades around its 20-day and 50-day exponential moving averages but remains below the 100-day EMA of $48.88 and the 200-day EMA of $56.45. This indicates a short-term momentum improvement, but the long-term trend is bearish.

The Relative Strength Index (RSI) value is close to 54, slightly higher than the neutral value of 50, which suggests that buyers have regained some control over the asset. However, it has not yet reached the overbought zone.