Recently, the cryptocurrency market has experienced a rebound, with Litecoin (LTC) standing out in particular. Since the beginning of August, LTC has shown a steady upward trend, with the current price climbing to around 107 USD, a 24-hour increase of 1.79%, and a total market capitalization surpassing 8.1 billion USD.

What is even more striking is that the trading volume of LTC has seen a significant increase, surging 16.19% compared to the previous period. Starting from a low of $103.75, buying pressure has been strong, driving the price continually upward, demonstrating investors' firm confidence in LTC.

On-chain data also brings good news. The number of active addresses in the last 24 hours surged to 402,000, setting a recent high. The surge in this metric indicates that actual user growth is synchronously flowing in with speculative funds, and typically, a significant increase in the number of addresses often signals that prices are about to rise.

From a technical analysis perspective, LTC is currently above the pivot point of $107.20. If it can stabilize at this level, the next target range will be locked in between $108.80 and $110.70. The 4-hour chart shows that the Relative Strength Index (RSI) is gradually recovering from the oversold area, and the price is approaching the middle line of the Bollinger Bands. At the same time, the 50-day moving average has crossed above the 200-day moving average, forming a classic golden cross pattern, releasing a strong bullish signal.

In the short to medium term, this rebound is expected to push the LTC price to challenge the range of 121.90 to 122.20 USD, but it first needs to break through the key resistance level of 110 USD.

Currently, market sentiment is high, and with on-chain activity remaining elevated, whether LTC can break through recent highs is drawing attention. Investors should closely monitor the two key price levels of $110 and $122; once breached, a larger increase may be on the horizon.

It is worth noting that the entire cryptocurrency market is showing signs of recovery, not limited to LTC alone. While investors seize opportunities, they should also fully recognize the high-risk characteristics of the market, make cautious decisions, and allocate assets reasonably.