Despite the notable volatility that has rocked the crypto market over the last week, Litecoin (LTC) has shown considerable resistance.
Despite the significant volatility that has plagued the crypto market over the last week, Litecoin (LTC) has shown remarkable resilience. According to data from CoinMarketCap, LTC has seen a 10% increase over the last seven days, maintaining the second-highest weekly gains among the top 20 cryptocurrencies after Toncoin (TON).
Consequently, several analysts have predicted similar future price movements for the coin, forecasting a major bull run after completing visible historical patterns. Also, Litecoin whale activities have continued to surge over the past three months. The number of large holder transactions per day within this time has spiked to about $3.6 billion.
Several crypto analysts took to X (formerly Twitter) over the weekend to share their predictions for Litecoin. Though citing different catalytic patterns, they all come to agree that Litecoin is due for a bullish breakout soon.
An analysis from Whales Crypto Trading showed that the 19th-largest cryptocurrency has crossed the key support level on the daily chart and is growing within a channel. He predicts that a breakout from this channel will be a major factor that will shoot LTC toward the $100 – $110 level. Notably, the analyst predicts that this will happen in the coming days. The chart shows that Litecoin’s movement has created a falling wedge formation in the 1-day timeframe, and consequently expects an upside breakout soon.
Another analyst, Crypto Surf, cites historical cycles in his analysis. According to him, Litecoin usually starts its bull run about 15 to 19 months after its halving and 6 to 8 months after Bitcoin halving. Recall that the last LTC halving happened on August 2, 2023, which reduced the block validation reward for the coin to 6.25 LTC.
Notably, 12 months have already passed since the halving, so per Crypto Surf’s prediction, Litecoin should see a bullish breakout between October 2024 and March 2025.
Meanwhile, Litecoin (LTC) traded in the red zone in the last 24 hours. Per CoinMarketCap data, LTC declined by 1.94% over the last day to trade at $66.31. However, its one-day trading volume increased by 6.84% signifying increasing trader and investor activity surrounding the coin. On the weekly overview, LTC has sustained a 10.3% upswing.
Finally, the Advance Decline Ratio, a metric that shows the ratio of increase vs. decrease in the value of an asset, climbed above 1, at 1.93 indicating increasing accumulation activity. This means that Litecoin saw more highs than lows, showing increased confidence among investors.
