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- 1 LTC coin price signifies a higher high structure and is looking bullish on the charts.
- 2 Bulls are eying the $100 mark and trying to pick momentum.
The LTC coin trades close to the round mark of $100 and is guiding an uptrend on the charts. Moreover, the chart depicts a higher high structure and the coin is near its trendline support, from where a rebound is anticipating ahead. The price action guides a bullish trend and the coin is taken support on the 20 day EMA mark. Amidst the market downturn, the LTC coin remained above its key EMA and is guiding a positive outlook.
At press time, the Litecoin (LTC) price traded at $97.33 with an intraday drop of 4.78%, reflecting neutrality on the charts. It has a monthly return ratio of 7.89% and 16.89% on a yearly basis. The pair of LTC/BTC is at 0.00141 BTC, and the market cap is $7.17 Billion. Analysts are neutral and suggest that the LTC coin may attain momentum and will skyrocket above the $110 mark.
LTC Price Volume Profile On Daily TimeFrame
The above chart displays the price to volume profile of Litecoin, revealing a neutral trend. Buyers persist in accumulation and setting eyes to cross the $110 mark, the immediate hurdle. The intraday trading volume dropped over 16.67% to $762.42 Million, revealing a negative outlook.
Price Volatility and Weighted Sentiment Overview
Followed by the price fluctuations this week, the price volatility data also displays pump and dump moves, noted around the 0.013 mark. However, the weighted sentiment value remained in the negative region, staying around -1.247, replicating an adverse outlook.
Social Dominance and Twitter Followers Data Insights
The Social dominance data noted a decline of over 13.90% and fell to 0.496%, revealing a decrease in the media discussion reports. However, the X followers data noted a -21 drop.
Development Activity and Open Interest Data Outlook
Per the Santiment data, the development activity data noted a downmove and dragged to 2.43, indicating a neutral outlook. However, the open interest data noted a decline and dropped over 1.23% to $292.07 Million, guiding long unwinding activity in the intraday session.
Per the Fib levels, the LTC price trades above the 38.2% zone and is close to the 50% mark near $110, delivering a positive outlook. However, the RSI curve showcased a negative crossover and stayed near the midline around 52.
The total supply of the LTC coin is 73.68 million, whereas the volume-to-market cap ratio is 0.106, and it ranked 24 in terms of market cap in the global crypto market.
Summary
The Litecoin (LTC) price trades above the key EMA and is eyeing to surpass the $100 mark. The trend is bullish and the coin is awaiting a rebound ahead and looking to skyrocket above the $110 mark soon.
Technical Levels
Support Levels: $90 and $82
Resistance Levels: $100 and $110
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
