Litecoin price approaches $75 amid technical rally and high network activity

Litecoin (LTC) has seen a significant price rally, climbing above $74 and testing the $75 resistance level. This upward movement follows the asset breaking through previous resistance areas between $64 and $65.

On the technical front, a golden cross has appeared on the daily chart, occurring as the 50-day moving average crossed above the 200-day average. While the current price sits well above these averages, traders are monitoring whether the asset can maintain its position above $70 to push toward $75 and subsequent resistance at $78.13.

Adding to the market activity, the Litecoin Foundation reported that over 17 million LTC, valued at more than $1 billion, moved across the network within a 24-hour period on September 23. This surge in blockchain transfers occurred alongside the price recovery.