LTC Price Prediction: Can Litecoin Surpass $100 as Whale Calls 10X Long Order?
Key Insights:
- LTC’s weekly price candle needed to close above the 10MA to head to $100 area around the 20 MA.
- A whale has been long BTC, ETH, SOL, LTC, XRP, LINK and other 16 tokens in the past month, with a total profit of more than $9M.
- Analysis of LTC’s open interest, volume and trade count supported potential bullish trend.
Litecoin (LTC) price prediction could be ready to surge after the potential shift in sentiment after Bloomberg’s prediction on LTC ETF approval odd stood at 90%.
LTC Price Prediction
On the weekly timeframe, LTC price prediction analysis showed it settled at $86.30 as it rested slightly above the 10-week moving average positioned at $84.48.
Further confirmation of an extended price rise above this threshold would transform the market dynamics to follow the 20 MA resistance path towards $100.43.
The breakout arose after LTC price highlighted strength when it filled and maintained the fair value gap between $79 and $80 levels.
The maintenance of market momentum could enable LTC to enter the $102.50 area then potentially push upward toward $131 to $139.
The price falling short of reaching $84.48 might put the $78.50 zone in danger of downward movement if the price broke the fair value gap.
A strong defensive area for bulls existed between $58 and $66 throughout the weekly momentum.
The 10 and 20 MAs stood as critical indicators for past market trend changes and LTC needed to closely monitor their behavior in upcoming price movements.
The reaction at $84.48 was crucial for determining if buying pressure took over from selling pressure.
Whale Going Long on LTC Alongside Other 16 Tokens
Meanwhile, one whale ran multiple long position trades in BTC, ETH, SOL, XRP, LINK, LTC and other 16 crypto tokens resulting in excess of $9 Million in unrealized gains.
This whale possessed 50,000 LTC assets worth $4.34 Million which they bought at $71.29 before its value increased to $86.92 as of press time.
This single position generated 179.77% in total profit which translated into a profit of $781,292 at the time of writing.
This whale has been accumulating BTC about 309 pieces valued at $24.68 Million at an average price of $79,792 with their total unrealized gains exceeded $5 Million.
This way, institutional investors continued to show increasing interest in LTC as they combined it with other top-class crypto assets.
The extended accumulation and high unrealized return on LTC presented promising indications which might push price upward if investors exhibited positive sentiment toward the asset class.
The acquisitions of LTC increased opportunities for short-term gain or loss in case market conditions changed or profits got retracted.
OI, Volume and Trade Count on LTC Price Prediction
Winding up, the future prices for Litecoin indicated an upcoming increase in value.
Major capital placement existed between Binance which held $150.16 Million open interest while Bitget followed with $105.76 Million.
Binance also secured the top spot with $111.48 Million with MEXC claiming the second position with $77.17 Million for the daily trading volume statistics.
The futures trade count on BingX surged to 1.36 million while Binance only achieved 334.08K which showed BingX users actively pursued speculative opportunities.
The high open interest together with high volume values tend to show traders were confident about the direction of the trend.
That way, price momentum could rise if the market kept trading above significant technical price levels.
A surge in trade counts from exchanges with reduced trading volume may represent retail market activity that introduces potential price volatility into the market.
However, the market price might undergo a correction if open interest showed signs of breaking down.
The upward trend of LTC could receive additional strength from increased sustained growth across all metrics.
