- Key indicators pointed to continued bullish momentum, with the market price of $128.01 reflecting a fair valuation.
- The technical backdrop aligned with recent whale activity, reinforcing Litecoin’s potential for further price appreciation.
Litecoin [LTC] has showcased impressive performance, surging to $128.02 with a 4.18% gain in 24 hours.
Whale activity at $113.4 significantly influenced this upward trend, supported by a 24-hour trading volume of $1.06 billion.
Key indicators point to continued bullish momentum, with the mark price at $128.01 reflecting a fair valuation.
Technical stability fuels growth
LTC’s price chart revealed a consistent upward trajectory, underpinned by strong technical indicators that affirm a stable and bullish market.
The Moving Average (MA) and Exponential Moving Average (EMA) confirmed a smooth upward trend, while Bollinger Bands showed controlled volatility, supporting the sustained price increase.
Also, the RSI, sitting at 57.04 at press time, indicated neutral momentum, suggesting that the asset was not overbought or oversold, leaving room for further growth.
The MACD revealed a positive divergence, reflecting increasing buying pressure and strong bullish momentum. Trading volumes have remained robust, demonstrating sustained market interest and liquidity.
The technical backdrop aligned with recent whale activity, reinforcing Litecoin’s potential for further price appreciation. With clear resistance near $130-$135 and strong support around $120.
Volatility sparks opportunities
Litecoin’s 30-day annualized volatility of 83.19% highlighted its dynamic nature. Patterns from trends suggests that high volatility has often preceded significant price shifts, such as the December 2024 spike.
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Author: Clinton Otieno
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