It follows the work of Litecoin PRICE XRP, the LTC analyst expects to target $ 600-800 dollars
The price of Litecoin shows bullish signs, as analysts expect 5x after $ 600. This upward outlook follows a recent increase in the open Litecoin interest to the highest level ever at $ 765 million per Coinglass. At the time of the press, OI fell to $ 711 million, but remained in Range Highs.
LTC price today He trades $ 123 at the time of the press, as it declined slightly from the highest daily level of $ 126.
Litecoin Price versus XRP: Was LTC prepared to $ 600?
The Guy analyst has participated in X relative performance analysis compared to Litecoin with XRP in the past seven years. In the graph, LTC and XRP were following the same trend, while matching the peaks and declines.
If this historical trend continues, the LTC price is likely to record a similar rallue of XRP, and reaches between $ 600 and 800 dollars.
Besides the price, Litecoin and XRP also participate in similarities in their total directions. The fate joined the race to get a trading box for exchange in the United States (ETF). As said Coingape, Bloomberg analysts expect that Litecoin will be the next spot altcoin etf After ethereum.
The Blockchain polymarket beta also witnessed Approval possibilities For Litecoin ETF spot to 84 %.
This style may leave LTC scope price
Litecoin price expectations The use of Exchang Netflow data indicates that Altcoin can continue to trade in the next three months.
According to the analysis, Litecoin traders benefit from price fluctuations to achieve profits. These traders withdraw LTC from stocks or accumulation during declines while intensifying deposits during gatherings.
The continuation of this trend can lead to the fact that the price of LTC is stuck in the area ranging from 90 to 130 dollars, with no clear outbreak of the ups and the negative side.
What is the following for LTC?
Litecoin is trading inside a parallel upward channel on the graph for 4 hours, indicating that the bulls are still in control. However, the upward continuation depends on supporting the defense of the price of Litecoin in the lower direction line.
The clouds below the midline of this thunderbolt canal that the momentum ascends weakens. Moreover, the flow of Chaikin (CMF) has decreased to -0.25, indicating an increase in the sale of pressure.
The RSI is less than 50 to the declining momentum. However, RSI wandered north and approached the signal line, indicating that the purchasing momentum was gradually increasing.
Litecoin traders should closely see the support level at $ 120, as a decline under the lower direction line may stop upward trends. On the contrary, running more than $ 130 can pave the way for a strong upward trend.
Related questions (common questions)
Litecoin’s performance reflected XRP performance in the past seven years, and if this historical trend continues, it may support a march to $ 600.
Exchange Netflow data shows that Litecoin traders buy decline and sell during nails, which may leave the price stuck between $ 90 and $ 130.
Bloomberg analysts puts the possibilities of approval of ETF Litecoin this year by 90 %, while Polymarket shows that 84 % of merchants expect ETF to be approved.
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