Litecoin (LTC) exhibits a strong upward trend despite the general fluctuations in the crypto market. In particular, the support of ETF approval expectations and large crypto exchanges such as Binance makes investors hope. Experts estimate that Litecoin’s price can rise up to $ 128 in the short term.
Rise signals towards $ 128
Recognized crypto analyst Carl Moon, Litecoin’s $ 96 splashed from a significant support level and is currently traded in a rising triangular formation, he said. He said that if this formation is broken upward, the price can reach $ 128.
During the article, the price of LTC was traded at $ 113.65 and had an increase of 7 %in the last 24 hours. Another analyst, XForceglobal, described Litecoin as “next XRP .. Stressed that the price may rise further if the lack of liquidity is solved. The realization of this scenario may offer significant earnings opportunities to LTC investors.
ETF excitement and binance support
One of the most important reasons for this movement in Litecoin’s price is ETF approval expectations. Large financial institutions such as Grayscale and Coinshares applied to the US Securities and Stock Exchange Commission (SEC) to transform Litecoin Trust into ETF. This development increased investors’ interest in LTC.
On the other hand, the fact that Binance offers Spot Grid and Spot DCA services for Litecoin positively affected market sensitivity. These new services can draw more liquidity to the Litecoin ecosystem and carry the price up. Investors see such supportive steps as a positive signal in terms of long -term price targets.
Can Litecoin see $ 150?
Technical indicators point to the potential to re -test Litecoin’s price of $ 128. If it is permanent above this level, the price is possible to rise up to $ 147. However, negative market conditions can withdraw Litecoin first to $ 109 and then to $ 100.
The recent increase in trade volume and investor interest draws a positive picture for Litecoin. The 169 %volume increase in the Derivatives market shows the confidence of major investors to Litecoin. If this trend persists, Litecoin can be expected to rise further in the short term. Investors should closely monitor these movements and are ready to evaluate possible opportunities!
