Finance news
Litecoin has made a strong comeback. In just one week, its price bounced back, recovering all its recent losses and climbing above $110. This recovery has almost balanced out its performance for the year. With the rate of accumulation still increasing, there’s a good chance Litecoin’s price could rise even more soon.
Litecoin’s Weekly Whale Volume Rises
Over the past week, Litecoin’s price has surged by over 15%, breaking through key resistance levels. In the last 24 hours alone, nearly $3 million worth of positions were liquidated, with sellers accounting for around $2 million of that total.
One possible reason for Litecoin’s price increase is growing speculation that the U.S. Securities and Exchange Commission (SEC) may soon approve a spot Litecoin ETF. The SEC recently acknowledged a proposal from Canary Fund for such a product, boosting investor confidence.
Also read: Nasdaq Pushes for CoinShares’ XRP and Litecoin ETFs – Will the SEC Approve?
Many in the crypto market now expect an approval before the end of 2025. Some analysts believe this price surge could mark the beginning of a larger upward trend for Litecoin.
Experts believe that if upcoming Litecoin exchange-traded funds (ETFs) are as popular as Bitcoin ETFs, they could see inflows of up to $580 million. Currently, about 6% of all Bitcoin is held in various ETFs. If Litecoin achieves a similar level of investment, it could attract more than $500 million into LTC ETFs.
According to IntoTheBlock’s recent analysis, the net inflow of Litecoin from major holders has jumped by 103% over the last week. This surge indicates that institutional investors and big players are likely stocking up on Litecoin, possibly in anticipation of an upcoming price rally. Historically, such accumulation by “whales” usually leads to a price increase as the available market supply drops and demand picks up.
The return of Donald Trump to the White House and the potential approval of spot LTC ETF have triggered a buying demand for Litecoin. The price of Litecoin is currently holding buying demand above the immediate Fib level of 23.6% channel. Currently, the Litecoin price is at $121, having surged over 11% in the last 24 hours.
The LTC/USDT trading pair is breaking above resistance levels, showing strong buying pressure from bullish traders. LTC is now aiming for a skyrocketing rally toward $135. However, it might face strong selling pressure around that level.
On the other hand, if the price rejects the current rally, it might drop to the support level of $110 for a retest. A decline from this level might send the price toward $100.
With the Relative Strength Index (RSI) remaining around the overbought region at level 74, there could be a slowdown in the current upward rally. Should the price stabilize above $120, it could shift the advantage to the buyers, potentially driving the price up to $135.
