LTC News: Litecoin Price Forecast Suggests Potential Rally Revival Driven by Whale Demand

Litecoin, one of the early cryptocurrencies, has shown resilience in the face of recent market volatility. After hitting a 30-day peak and subsequent retraction, whales have stepped in, acquiring a significant amount of LTC, potentially signaling a revival in its rally.

Litecoin Price Forecast: Whale Demand Could Revive LTC Rally

Litecoin price hit $128 on Thursday, retracting 5% from its 30-day peak. However, whales have acquired $500 million worth of LTC in the last 14 days, signaling increased whale presence which could provide a buffer against volatility. The price action of Litecoin (LTC) faces major rejection at $130 amid widespread profit-taking, but the increased whale demand could potentially revive the LTC rally.

Canary Capital Lists Litecoin ETF on DTCC Ahead of SEC Decision

Canary Capital has listed a spot Litecoin ETF on the Depository Trust & Clearing Corporation (DTCC) ahead of a Securities and Exchange Commission (SEC) decision. The DTCC listing is a preparatory step and does not indicate SEC approval, but it suggests significant trading activity may be on the horizon. Canary Capital first applied for a Litecoin ETF in October 2024, and analysts believe the chances of approval are high due to Litecoin's compliance with certain regulatory criteria.

Litecoin Price Primed for Major Bullish Breakout

Litecoin (LTC) is poised for a significant bullish breakout, potentially tripling its value in the coming year. Currently trading around $135, the crypto is testing its late-2024/early-2025 highs in the $140 area. Bullish technicals and a favorable fundamental backdrop since the 2021 bull market indicate a high probability of a breakout. The Litecoin price bounced strongly from its 200DMA in early February, signaling bulls' control over the medium term. Pressure is building for a breakout above $140 resistance, with the Litecoin price consistently posting higher lows.