Litecoin’s price jumped 25% this week following Grayscale’s spot Litecoin ETF filing. This news has driven institutional demand, reinforcing Litecoin’s position as a top-performing cryptocurrency.
Investor Support Strengthens Litecoin’s Position
Long-term holders (LTHs) have played a crucial role in Litecoin’s stability. The MVRV Long/Short Difference indicator remains positive, showing LTHs are in profit. These investors typically hold rather than sell, minimizing drastic price drops.
By holding their assets, LTHs provide essential support, helping Litecoin sustain rallies even in volatile market conditions. Their commitment strengthens investor confidence and maintains momentum.
Bullish Sentiment Backed by Key Metrics
The IOMAP metric shows strong buying activity in the $128 to $135 range, with over 2 million LTC purchased, worth $256 million. If Litecoin turns $136 into a support level, sentiment will remain positive.
This concentration of profitable investors increases confidence in Litecoin’s upward trend. Breaking the $136 resistance could signal further gains, solidifying its growth potential.
LTC Price Prediction: Key Resistance at $136
Litecoin is currently trading at $128 after a 25% surge. The immediate challenge lies at the $136 resistance level. Flipping this level into support could unlock the $256 million in potential profits, pushing the price toward $147.
However, if Litecoin fails to break $136, it could retrace to $117 or even $105. A drop to these levels would erase recent gains and weaken the bullish outlook.
Conclusion
Litecoin’s recent surge has captured investor attention, fueled by ETF speculation and strong holder support. The next key milestone is breaking past $136, which could pave the way for further gains. Investors should watch this critical level closely to gauge Litecoin’s next move.
