What to Expect from LTC Price Next?
Litecoin makes a comeback. In just one week, its price rebounded, recovering all recent losses and climbing above $110. This recovery almost balanced the performance of a year. As the accumulation rate continues to increase, the price of Litecoin is likely to rise soon.
Litecoin’s weekly whale volume increases
Litecoin’s price has soared more than 15% over the past week, breaking through key resistance levels. In the past 24 hours alone, nearly $3 million of positions have been liquidated, with the seller accounting for $2 million of the total.
The possible reason for the rise in Litecoin prices is increasing speculation that the Securities and Exchange Commission may soon approve the Litecoin ETF. The SEC recently acknowledged the Canary Fund from Canary Fund’s proposal for this product, thus strengthening investor confidence.
Please read also: Nasdaq pushes Coinshares’ XRP and Litecoin ETF – Will the SEC approve it?
Now, many in the cryptocurrency market hope to get approval by the end of 2025. Some analysts believe that this price surge could mark the beginning of a larger uptrend for Litecoin.
Experts believe that if the upcoming Litecoin exchange trade funds (ETFs) are as popular as Bitcoin ETFs, they may see up to $580 million inflows. Currently, about 6% of all Bitcoins are held in various ETFs. If Litecoin gets a similar level of investment, it could attract more than $500 million in LTC ETFs.
Net inflows of litecoin for major holders rose 103% last week, according to recent analysis by Intotheblock. The surge suggests that institutional investors and large participants may be stocking up on Litecoin, which may be due to the upcoming price rally. Historically, the accumulation of “whales” often leads to higher prices due to the decline in available market supply and increased demand.
What is the next step in LTC price?
Donald Trump returns to the White House, potential recognition of the Field Limited ETF triggers demand for purchases of Litecoin. Litecoin’s price is currently bringing purchase demand to an immediate higher than 23.6% channel. Currently, the price of Litecoin is $121, soaring more than 11% in the past 24 hours.
The LTC/USDT pair is exceeding resistance levels, showing strong buying pressure on bullish traders. LTC is now aiming to soar at $135. However, it may face strong sales pressure.
On the other hand, if the price rejects the current rally, the level of support for the retest could drop to $110. The decline from this level may shift the price to $100.
As the relative intensity index (RSI) remains near too many areas of level 74, the upward gathering of current may slow down. If the price stabilizes above $120, it may transfer the advantage to the buyer, which may push the price to $135.
