Litecoin Price Targets $135 Amid Record Hashrate and Market Volatility
The cryptocurrency Litecoin (LTC) is showing signs of potential growth, with its price currently hovering around $103.97, marking a 1.79% increase within the last 24 hours, according to Coingecko. However, the asset has experienced a 17.40% decline over the past week, reflecting the ongoing market volatility. Analysts suggest that if Litecoin surpasses the $98 support level, it could climb to $135, with an intermediate resistance at $116. Failure to maintain the $98 level could see the price drop to $91, potentially attracting further buying pressure. These insights were reported by The Coin Republic in their article titled "Litecoin-Kurs steuert auf $135 zu! Kann die Rekord-Hashrate von LTC eine Rallye auslösen?" (source: The Coin Republic, https://www.thecoinrepublic.com/de/2025/03/06/litecoin-kurs-steuert-auf-135-zu-kann-die-rekord-hashrate-von-ltc-eine-rallye-ausloesen/?amp).
Technical indicators for Litecoin suggest a mixed outlook. The Bollinger Bands indicate increased volatility, with LTC trading near the lower band at $105.58. A move above $110 could signal a reversal, while a failure to reclaim the middle band at $123.25 might lead to further declines. The Relative Strength Index (RSI) stands at 39.21, suggesting that Litecoin is nearing oversold territory, which could attract buyers. Meanwhile, the MACD (Moving Average Convergence Divergence) remains bearish, with the MACD line at -2.81 below the signal line at -1.82. For a bullish trend to emerge, Litecoin must break through the resistance range of $115 to $120.
In addition to price movements, Litecoin's network has reached a record-high hashrate, attributed to increased mining activity and the combined mining of LTC, Dogecoin (DOGE), and Bellscoin (Bells). This development underscores the network's strong security and could influence Litecoin's price trajectory. According to IntoTheBlock, 43.64% of LTC holders are currently profitable, while 33.01% are at a loss, and 23.35% are near the breakeven point. A breakout above $111.50 could trigger an upward trend, whereas a close below $104 might exert downward pressure.
Market dynamics also reveal significant whale activity, with 10.80% of Litecoin's supply concentrated in just two large addresses. Additionally, 143 active investors hold 37.92% of the total supply, amounting to 28.93 million LTC out of 75.08 million LTC. This distribution suggests that sudden price movements could occur if these major holders decide to buy or sell. If buying activity continues, Litecoin's price could potentially rally to $135 in the coming weeks, as highlighted in the analysis by The Coin Republic.
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