News View Non-AMP

Litecoin (LTC) Nears Breakout, $200 Price Target Next?

Published by
Chandan Gupta

Amid the ongoing market uncertainty, Litecoin (LTC) is gaining significant attention from crypto enthusiasts due to its impressive performance in recent days. While examining current market trends and asset outlooks, a prominent crypto expert posted on X (formerly Twitter) and made a bold prediction for LTC.

Litecoin Price Prediction

In a post on X, the expert noted that Litecoin is gaining momentum but is currently moving within a consolidation zone between $96.50 and $140. A breakout from this range, followed by a daily candle closing above the $141 level, could pave the way for a rally toward $170 and $200.

Besides experts’ LTC outlook, CoinPedia’s technical analysis indicates that the asset is trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, signaling an uptrend. On a positive note, LTC’s Relative Strength Index (RSI) is near the overbought region, suggesting that the asset has room to rise and maintain its upward momentum.

$23 Million Worth Litecoin (LTC) Outflow

Looking at this bullish price action, traders and investors are betting on long positions and accumulating LTC, as revealed by the on-chain analytics firm Coinglass.

Data on spot inflows and outflows shows that exchanges have witnessed a significant outflow of $28 million worth of LTC in the past 24 hours. This substantial outflow from exchanges hints at potential accumulation, which could drive buying pressure and further upside momentum.

Major Liquidation Level and Current Price Momentum

Besides the potential accumulation by long-term holders, intraday traders also appear to be following the bullish trend. At press time, traders holding long positions are over-leveraged at the $120.90 level, with $5.85 million worth of long positions.

Meanwhile, traders holding short positions are over-leveraged at the $122.30 level, with $1.60 million in short positions. However, these millions of dollars worth of short and long positions will be liquidated once the price moves in either direction.

Litecoin (LTC) is trading near $121.90 and has experienced a 2% price surge in the past 24 hours. However, during the same period, its trading volume jumped by 30%, indicating heightened participation from traders and investors compared to the previous day.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

XRP News Today: VivoPower Announces a $121M Private Funding to Become First XRP Treasury-focused Publicly Traded Company

VivoPower International PLC (NASDAQ: VVPR) announced that it raised $121 million by selling 20 million…

May 29, 2025

Bitcoin 2025 Conference Concludes on Thursday: Key Takeaway Points from High-profile Speakers

The Bitcoin 2025 Conference, held at the Venetian Convention Center in Las Vegas between May…

May 29, 2025

Top Crypto Predictions for June 2025: TON, SPX, PI, KAS, XDC

The markets continue to remain consolidated within a narrow range as the prices of the…

May 28, 2025

Cactus Custody and Chorus One Partner to Unlock the Future of Institutional Ethereum Staking

Institutional interest in blockchain technology continues to rise and the demand for secure, efficient, and…

May 28, 2025

5 Altcoins to Watch for 100% in Profits by June 2025

Dramatic upswings are nothing new to the cryptocurrency market, particularly when the macroeconomic environment supports…

May 28, 2025

Investors Who Enjoyed Shiba Inu’s (SHIB) Life-Changing Climb in 2021 Will Love Salamanca (DON) Token in 2025

Salamanca (DON) is gaining rapid traction across major trading platforms, including Gate.io, MEXC, and PancakeSwap.…

May 28, 2025