⇗ Bullish or Bearish: A Comprehensive Roundup on LTC Coin's Recent Developments and Future Outlook
Litecoin (LTC) has been generating significant buzz, notably following its announcement to identity as a meme coin , subsequently prompting a...
The current trend in the Litecoin (LTC) market is fairly bullish with increased on-chain activity and surges in whale transactions. The Canary Capital group has applied to establish the first Litecoin ETF in the US, signaling increased mainstream acceptance. On the other hand, Litecoin’s miner reserves have hit a multi-year low. Despite the drop, the LTC price has broken above its resistance trendline. The crypto asset, which has added 1 Million addresses in the past 7 months, doubling its activity, is now the most-used cryptocurrency.
John Bollinger, the legendary trader has made a bold bullish prediction for Litecoin. It is noteworthy to point out that Fidelity has added Litecoin to its crypto offerings, putting it in a prime position to explode in value. The LTC price eyes $150 as the Commodity Futures Trading Commission (CFTC) gave a bullish ruling. Despite the overall bullish climate, certain pockets in the LTC community are somewhat apprehensive of a potential price drop in the market as nearly 63% of all LTC investors are HODLers. However, a bullish divergence could lead to a 120% rally in Litecoin's value.
The cryptocurrency Litecoin is also experiencing a growth in its on-chain volume with a record of 412 Million LTC moving in a week. Importantly, The CFTC has classified Litecoin as a commodity, causing speculation about the prospect of a spot LTC ETF. A bullish rally for Litecoin is potentially on the horizon, only if it maintains certain support levels.
LTC Coin News Analytics from Wed, 21 Feb 2024 08:00:00 GMT to Tue, 22 Oct 2024 15:23:14 GMT - Rating 7 - Innovation 5 - Information 9 - Rumor 3