Here’s Why Litecoin Price Is Up 18% Today?

Litecoin worth is outperforming the broader crypto market run-up gaining greater than 18% within the final 24 hours capturing all the best way to $120 ranges. The each day buying and selling quantity has additionally skyrocketed by a large 301% to $1.68 billion suggesting sturdy bullish momentum transferring forward. This comes amid sturdy LTC whale accumulation together with the rising optimism for Litecoin ETF approval.

What’s Behind the Litecoin Worth Rally?

After forming a powerful base at $100, the Litecoin worth has gained 18% within the final 24 hours supported by a powerful increase within the each day buying and selling volumes. As per the Coinglass data, the LTC open curiosity has shot up by 30% to $582 million whereas the 24-hour liquidations have surged to $1.60 million with $1.28 million in brief liquidations.

As per blockchain analytics agency Santiment, the Litecoin worth surge comes attributable to elevated exercise from giant buyers, particularly whales and sharks holding at the very least 10,000 LTC. These entities have collectively collected 250,000 LTC since January 9, signaling sturdy institutional and large-scale investor curiosity.

This sample mirrors comparable exercise noticed in early December. Thus, this reinforces the notion that large gamers are displaying a lot curiosity in LTC with the expectations of additional worth positive aspects.

LTC Rally to $200 And Past Very Quickly?

As LTC has bounced again from the assist of $100 with sturdy buying and selling volumes, analysts are bullish concerning its subsequent leg of the rally to $200 and past. Widespread crypto analyst Solberg Make investments said that LTC has accomplished a “retest” section following its breakout from a long-term downward trendline. This improvement, mixed with the looks of a triple-bottom sample on the chart, alerts that Litecoin could also be set for a big upward transfer, probably gaining $200 in worth.

XBT Liquidators has highlighted a bullish setup in Litecoin’s chart that has largely gone unnoticed. The evaluation factors to the function of Gann angles, which, as soon as damaged, can act as sturdy assist or resistance ranges. With Litecoin worth holding above the Gann angle with out retracing, the analysts counsel this can be a extremely bullish sign. They predict {that a} transfer to $250 within the subsequent upward leg is a “no-brainer. On the opposite, different market analysts have shared an LTC price prediction of $500 by mid-2025.

Nobody speaking about this $LTC chart.

Keep in mind, gann angles, as soon as damaged, can act like assist/resistance.

Since LTC worth didn’t dump again beneath the gann angle, that is very bullish.

$250 on the subsequent leg up is a no brainer. pic.twitter.com/OzMAYKNily

— XBT Liquidators (@Cryptard3000) January 15, 2025

Optimism Round Litecoin ETF Grows

On Wednesday, Canary Capital submitted the S-1 software to the U.S. Securities and Trade Fee (SEC) for a spot Litecoin ETF. Eric Balchunas, senior ETF analyst at Bloomberg, has hinted at progress in Litecoin ETF approval. Balchunas famous that studies counsel the Litecoin S-1 submitting has acquired feedback from the U.S. Securities and Trade Fee (SEC), signaling a step ahead.

“This improvement helps our prediction that Litecoin is the most certainly candidate for the subsequent ETF approval,” Balchunas said. As of press time, the LTC worth is buying and selling 17.31% up at $119.31.