(LTC) has recently attracted the attention of large traders in the cryptocurrency market. At the time of writing, the LTC price is $125.29, and despite a decrease in trading volume, the price has still risen by 12.86%, breaking through a significant downward trend line.
Litecoin Price Trend Analysis
After breaking through $120, LTC's strong upward trend emerged, with a sharp 12.86% increase reflecting a strong bullish wave. If this momentum is sustained, LTC may aim for the key volatility zone at $129 in the short term, while the mid-term target is $143.
According to TradingView data, technical indicators show that LTC has suppressed bullish signals, with short-term, mid-term, and long-term moving averages all issuing 'buy' signals. The Relative Strength Index (RSI) is also at 53, further reflecting positive market sentiment.
Market Sentiment and On-Chain Data
The open interest for this coin has risen by 12.09% in the past day, with a long-to-short ratio for Litecoin at 2.19, indicating that more traders are buying LTC recently. According to IntoTheBlock data, the net inflow to exchanges over the past seven days was $33.14 million, showing relatively low selling pressure.
Additionally, Ali Martinez pointed out that large investors have increased their holdings of 930,000 LTC in the past week, demonstrating long-term confidence in LTC. With the likelihood of LTC ETF approval rising, investors are preparing for a rebound in Litecoin.
Questions about Litecoin
LTC needs to maintain strong upward momentum above $120 to continue its march towards $129 and potentially higher. If it falls below the critical support level of $120, it may lead to a price correction down to $110. Moreover, LTC has a low correlation with Bitcoin (support 0.11), and its upward targets are more likely to depend on its own market buying and whale activity, potentially indicating a long-term bullish trend.#币安HODLer空投SHELL #Bybit发布黑客取证报告 #币安Alpha上新 #比特币价格走势分析 #Strategy增持比特币 $LTC $BTC $ETH
