**Litecoin Price Breakout: Will the Bulls Reclaim $110?**
This recent rally in Litecoin (LTC) didn’t happen in isolation. Privacy-focused coins like Zcash also experienced an equally impressive run, reflecting a broader spike in demand for anonymity across the crypto markets. Traders should note that this momentum wasn’t purely speculative—spot ETF inflows for Litecoin hit $640,000, adding significant real capital into the mix.
On the technical front, Litecoin made a strong comeback by breaking out of a months-long bearish channel and surpassing key moving averages. The perfect storm of fresh whale accumulation, historic on-chain activity, and wider interest in privacy protocols set the stage for this week’s breakout.
### Whales and Volume Surge
One of the most compelling indicators supporting Litecoin’s rally comes from activity among whale wallets and on-chain volume. Over the past three months, the number of holders with 100,000+ LTC increased by 6%, with 7 new whales joining the ranks. This is a significant jump and often signals coordinated accumulation by large holders.
Data from Santiment highlights that on-chain transaction volume surged dramatically, averaging $15.1 billion for the week—the highest in Litecoin’s history. These factors place Litecoin in a class of its own among altcoins for now. With whales backing the upward move and transactional activity hitting record levels, the technical rally has solid on-chain support.
This trend helps keep the bulls in control and sets up the next phase of price discovery.
### LTC Price Analysis
Litecoin is currently trading across exchanges at $101.06, up 12.61% within a single day and 5.2% over the week. Its market capitalization has climbed past $7.73 billion, while 24-hour trading volume nearly tripled to $1.68 billion.
The LTC price decisively broke above its 30-day Simple Moving Average (SMA) at $95.86, a level that had previously acted as strong resistance. The Relative Strength Index (RSI) stands neutral at 66.46, suggesting the price is neither overbought nor oversold at this time.
The breakout above $100.91, which aligns with the Fibonacci 50% retracement level, highlights short-term bullish sentiment. Buyers appear to be in control, with the MACD histogram reading +0.39, signaling growing upward momentum.
If Litecoin’s price closes above $109.09, the next logical target would be $119.21—the Fibonacci 23.6% retracement level. Optimistically, this target could be reached within the next week, provided the bulls defend the $100 support level and volume continues to rise at the current pace.
However, traders should exercise caution. A failure to hold above $100 could pull LTC back down to $92.74 support. Moreover, if trading volume dries up and whale accumulation halts, the price may fade further toward $86 before stabilizing.
### Outlook
Current market conditions favor the bulls, but there remains a risk of sharp profit-taking. Unless the price dips below $93.36, the bearish scenario looks relatively modest.
—
**FAQs**
*Will LTC sustain its breakout above $100?*
Sustaining above $100 depends largely on continued whale accumulation and growing volume. If these hold, the breakout is likely to sustain.
*What is the next major resistance level for Litecoin?*
The next major resistance sits at $119.21, aligned with the Fibonacci 23.6% retracement level.
*What happens if Litecoin fails to hold $100 support?*
A drop below $100 may lead LTC to test support at $92.74, or even fall further toward $86 if bearish momentum strengthens.
—
Stay tuned as Litecoin’s price action unfolds in the coming days, and always exercise proper risk management when trading.
https://bitcoinethereumnews.com/tech/litecoin-price-breakout-will-the-bulls-reclaim-110/
