Litecoin Surges 16% as Whales Accumulate 250,000 LTC Tokens
Litecoin (LTC) is experiencing significant bullish momentum, driven by discussions of potential ETF approval and a recent price surge of nearly 16%, bringing its market cap close to $9 billion.
Key Highlights
- LTC price trend shows three consecutive bullish candles, breaking local resistance.
- The price surpassed the 23.60% Fibonacci level at $114.38 and aims for the 38.20% level at $125.
- Technical indicators suggest a buy signal, with potential targets at $150 and higher Fibonacci levels of $155.71 and $171.
- Whales have accumulated 250,000 LTC in the past six days, indicating strong confidence amid ETF discussions.
- Canary Capital is amending its S-1 filing for a Litecoin ETF, with expectations of SEC approval increasing buying pressure.
Traders should watch key Fibonacci levels closely as Litecoin positions itself for potential gains, while a retest of the $110 level remains possible.