Litecoin, Jito, and Bittensor added between 17% and 22% to their values in the past seven days, according to CoinGecko data. Bitcoin’s resilience and the market-wide recovery in crypto has paved the way for gains in altcoins.
Litecoin, Jito and Bittensor extend rallies on Friday
Litecoin (LTC), Jito (JTO) and Bittensor (TAO) added to their value on Friday after seven days of double-digit price rallies. The Bitcoin fork (LTC), Solana-based token (JTO), and AI token (TAO) outperformed most altcoins, ranking within the top 100 cryptocurrencies by market capitalization.
As Bitcoin continues to show resilience in the face of hot U.S. CPI, Trump tariff announcements, and other macroeconomic developments, altcoins are recovering from the correction alongside the largest cryptocurrency.
LTC gained 2.53%, and JTO and TAO added 5.68% and 2.98% to their value on the day, according to TradingView data.
On-chain and technical analysis
Santiment data shows that in the past week, total open interest in USD in Litecoin has climbed steadily to its highest level on Friday, at $416.87 million. The Network Realized Profit/Loss metric used to determine the net realized profit/loss of all tokens moved on the chain on a given day shows small-scale profit-taking by traders.
The funding rate across exchanges remains positive, as observed in the chart below.
Total open interest in Jito climbed, similar to Litecoin, this week. There is a spike in social dominance meaning the token became more relevant among traders and market participants. Trade volume climbed and the Solana-based token rallied in response to demand from institutional and retail traders.
Bittensor on-chain data shows volume held steady, at the average level, with a few positive spikes in the last week. The total open interest recorded a spike on February 11, as seen in the Santiment chart below. Funding rates data shows a negative spike today, meaning traders need to keep their eyes peeled as derivatives traders turn bearish on the Bittensor, on Friday.
Litecoin could extend gains by nearly 10% next week, attempting a re-test of the 2025 peak of $141.22, as observed in the LTC/USDT daily price chart. The two momentum indicators, RSI and MACD, support gains in Litecoin.
RSI reads 62 and is sloping upwards, MACD flashes green histogram bars above the neutral line, meaning there is an underlying positive trend in LTC price trend.
Litecoin could find support in the Fair Value Gap (FVG) between $109.18 and $117.81, in the event of a correction.
Solana-based JTO could test resistance at R1, the December 16 peak at $3.841. The next key resistance is December 2024 high and R2 at $4.340.
JTO’s long-term price target is the 2024 high of $5.330, observed on the JTO/USDT daily time frame. RSI and MACD support further gains in the token.
JTO could find support in the FVG between $2.694 and $2.920 if there is a decline in altcoin prices.
TAO could rally nearly 13% to test resistance at the upper boundary of an imbalance zone on the daily price chart, at $445.60. TAO could find support at $341.50, a support level that held steady for several weeks now.
RSI is sloping upward and MACD flashes green histogram bars above the neutral line. There is an underlying positive momentum in TAO price trend on the daily timeframe.
Market movers in LTC, JTO and TAO
Senior ETF analyst for Bloomberg, Eric Balchunas, tweeted about the odds of approval of a Litecoin ETF. Balchunas says Litecoin leads the likelihood of an ETF approval, with a 90% chance.
Litecoin is closely followed by Solana. Balchunas explains that the experts calculated the odds only for “33 Act IBIT-esque filings.” Balchunas believes that futures or Cayman-subsidiary type 40 Act products could get approval as well.
ETF hype has been a key market mover for Litecoin this week.
The U.S. Securities and Exchange Commission’s crypto task force lined up meetings with projects like Jito Labs, fueling anticipation of positive developments in the protocol. This emerged as a key market mover for JTO price this week.
In the case of Bittensor, Dynamic TAO, an update as important as Ethereum’s Merge was implemented on Thursday. The anticipation of the update drove TAO price higher all week, and the recent gains are likely an extension of the rally.
Dynamic TAO, the update in question, will be implemented within a year, unlike Merge’s timelines.
Grayscale, one of the largest crypto asset managers, tweeted about the upgrade, its importance and its impact on the crypto and TAO ecosystem.
Derivatives data analysis
Litecoin derivatives data from Coinglass shows a nearly 12% increase in Open Interest, or the value of open derivatives contracts in LTC, in the past 24 hours. OI climbed to $719/18 million. The long/short ratio is above 1, meaning derivatives traders are bullish on Litecoin as of Friday.
The OI in JTO is close to the 2025 average at $35.06 million. OI climbed in the past three days, a larger positive spike is correlated with anticipation of gains in JTO price, according to Coinglass data.
TAO notes a decline in derivatives trade volume alongside an increase in OI. The long/short ratio for the 24 hour timeframe has dipped slightly under 1, it is therefore likely derivatives traders are bearish on TAO.
Across derivatives exchanges, Binance, and OKX, the ratio is above 1. Traders need to keep their eyes peeled for a shift in TAO price trend.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
