Litecoin (LTC) has compensated a significant portion of its losses since the end of January, experiencing a strong rise of 10 %in the last 24 hours. This ascension allowed Litecoin to approach a critical level of resistance that he has not been able to break for the last two months. Investors think that overcoming this level may be the beginning of a lucin period for Litecoin.
Litecoin profit sales can start soon
According to the In/Out of the Money Around Price (Iomap) indicator, a major investor interest in the range of $ 128 to $ 139. 2.66 million LTCs have been purchased from these levels and these investors have the potential to make a profit of $ 337 million.
The continuation of the rise may allow these investors to finally make profit. However, for this, Litecoin needs to support this level by exceeding the $ 136 barrier. If this happens, the upward trend may be strengthened.
Long -term investors rely on Litecoin
Market Value to Realized Value (MVRV) indicator shows that despite fluctuations in Litecoin price, long -term investors are still in profit. This is considered a very positive signal.
Long -term investors are seen as one of the basic poles of crypto currencies. Even during periods of decline in the market, they maintain their positions, increases the likelihood of recovering for Litecoin. The preservation of these investors can pave the way for the stability of the market and long -term price increases.
Litecoin Price Estimation: What are the critical levels?
Litecoin’s price increased by 10 %in the last 24 hours to $ 127. Currently, the level of $ 136 is quite close to the level of $ 136, and this level has been a major obstacle for Litecoin for the last two months.
Exceeding this resistance can be a critical turning point for Litecoin’s price movements.
- If the LTC breaks $ 136 resistance, the price may rise to $ 140, then to $ 147.
- However, if it fails, the price of LTC may be withdrawn to $ 117 and the expectation of rise may be invalid.
These levels will determine whether Litecoin can enter a longer -term upward trend.
Can macroeconomic factors support litecoin price?
Macroeconomic developments also create a positive atmosphere for LTC. In addition, it is highly likely to confirm SEC’s Litecoin ETFs before other subcoins. If this approval is realized, Litecoin may attract the attention of corporate investors and provide new fund entry into the market.
However, if the $ 136 level cannot be broken, the LTC may repeat previous withdrawal and the price may drop to $ 117 or lower levels. In this case, the current rise scenario becomes invalid and the gains of LTC may melt.
