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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.
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.