Analyst showed the target: This Altcoin will run with all its power!

The Litecoin (LTC) price rose to over 8 percent on Monday after re -testing the key support level in the previous week. Altcoin is traded around $ 116.00 during the article. According to crypto analyst Manish Chhetri, the technical appearance and the Long-short ratio of LTC points to a future run. However, the rise of LTC’s profit/loss (NPL) metropy shows that Holders have made some profit. Therefore, the analyst recommends that the traders be cautious, as this may increase sales pressure.

LTC Price Estimation: Altcoin is preparing to run for $ 147!

Litecoin (LTC) price in the first half of last week’s 200 -week exponential moving average (EMA) by testing at $ 86.22 declined. In addition, in the second half, the weekly support level, $ 96.30, leaping. In addition, since the end of March 2022, combining the highest levels of the lowest levels, the descended trend line re -tested and jumped from here.

During the article on Monday, it continues to be traded at a higher $ 116.63 dollars. If the Altcoin price continues to recover, it may extend the rally to re -test the highest level of $ 147.06 on December 5th. The Relative Power Index (RSI) in the LTC weekly graph points to an increase in rising momentum by reading the value of over 50, over 50, the neutral level.

LTC/USDT weekly graphics

Other indicators that support the rise

Another sign of rise is the LTC Long-short ratio of Coings, which is 1.07 and continues to increase since the beginning of February. This ratio on one reflects the feeling of rise in the markets due to the betting for more trader to rise to the existence price.

LTC Long-Chart Ratio graph. Source: coinglass

However, investors should be careful, as the on-ach data provider Santimement’s profit/loss (NPL) indicator for LTC shows strong increases. The strong increases in a coin’s NPL show that Holders sell their bags with significant profits on average. Therefore, this can increase sales pressure. In the case of LTC, the NPL indicator rose from Thursday to Friday from 1.39 million to 51,59 million.

The opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.