The price of Litecoin jumped 25 % this week following the announcement that Grayscale filed a request for ETF Spot Litecoin, arousing the demand of institutional investors.
This decision validated the efforts of long -term holders (LTH), whose support anchored LTC in market fluctuations. This development positioned Litecoin as a remarkable player on the cryptocurrency market.
Litecoin has the support of his investors
Long -term holders played an essential role in stabilizing Litecoin. The MVRV Long/Short Difference indicator remains very positive, indicating that LTHs are beneficiaries. These investors, known for their tendency to Hodl rather than selling, provide essential support, reducing the probability of strong corrections.
This behavior has created a solid basis for Litecoin, allowing it to maintain increases even during market volatility periods. By keeping their assets, the LTH act as the backbone of Litecoin, ensuring that cryptocurrency maintains its momentum and wins the confidence of investors.
The macroeconomic dynamics of Litecoin remains upward, supported by the Iomap metric. The data reveal that investors have bought more than 2 million LTCs, valued at more than $ 256 million, in a range of 128 to 135 dollars. This offer becomes fully profitable once Litecoin converts $ 136 into support, thus strengthening positive feeling.
This concentration of profitable investors should maintain the optimistic feeling. The anticipation of a break in the resistance level of $ 136 has fueled an upward dynamic, because investors remain convinced that the STC can maintain its upward trajectory. The substantial support for these levels further strengthens the continuous growth potential of assets.
Price prediction LTC: switch the key barrier in support
Litecoin has increased by 25 % in the past 24 hours and is currently negotiated at $ 128. Altcoin now faces resistance at $ 136, which will be essential to maintain its upward dynamics and allow new gains.
If Litecoin takes the plunge and converts $ 136 into support, it could unlock the $ 256 million in profits linked to this level. Such a decision would probably propel LTC at $ 147, marking an important step in its current rally and validating the confidence of investors.
However, if the price of Litecoin does not exceed $ 136, this could drop at $ 117, or even $ 105. This would erase an important part of recent gains, would invalidate upward perspectives and delay the achievement of early benefits.
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