Litecoin Gains 25% Against Bitcoin in February, but a Pullback Looms
- Litecoin surgd 25% ginst Bitcoin in Fbrury, with ovr 445,000 ctiv ddrsss signling mrkt nggmnt.
- Bloombrg nlysts stimt 90% chnc of Litecoin ETF pprovl in 2025, fuling invstor optimism.
- Litecoin fcs rsistnc t $134, with RSI t 52.56 nd MACD showing brish signs, hinting t pullbck.
Litecoin hs md powrful mov this Fbrury, gining 25% ginst Bitcoin. This ris hs put th cryptocurrncy in th spotlight s on of th fw ltcoins mnging to outprform Bitcoin this month. On-chin dt from Santiment highlights shrp incrs in ntwork ctivity, trnd tht could indict upcoming voltility.
Ovr 445,000 ctiv ddrsss wr rcordd for th first tim sinc Fbrury 1st. Tht lvl of nggmnt suggsts mor trdrs r ntring th mrkt, ithr ccumulting or looking to tk profits. Historiclly, such spiks in ctivity hv prcdd mrkt fluctutions, rising qustions bout whthr Litecoins rlly will hold or fc pullbck.
Socil mdi sntimnt hs lso turnd ovrwhlmingly positiv, with bullish mntions doubling th brish ons sinc Fbrury 10th. Whil optimism is oftn good sign, rpid sntimnt shifts in this dirction hv historiclly coincidd with short-trm pric tops. Anlysts wrn tht whn th mrkt lns too hvily towrd bullish xpcttions, profit-tking cn follow, lding to tmporry pric dip.
Litecoin ETF Hype Sparks Optimism
A mjor drivr bhind LTCs rcnt prformnc is growing spcultion bout th pprovl of Litecoin xchng-trdd fund (ETF) by th U.S. Scuritis nd Exchng Commission (SEC). Bloombrg nlysts stimt 90% liklihood of pprovl in 2025, fr highr thn projctions for n XRP or Soln ETF.
Th succss of Bitcoin nd Ethrum spot ETFs hs pvd th wy for mor crypto-bckd invstmnt products. If pprovd, LTC ETF could ttrct nw cpitl, mking th sst mor ccssibl to institutionl invstors. Whil it might not mtch th dmnd of Bitcoin or Ethrum ETFs, nlysts bliv vn modst inflows could boost its long-trm ppl.
Dspit this xcitmnt, LTCs pric ction hs strtd to show signs of struggl. Th cryptocurrncy currntly trds t $125.23, mrking 2.19% dclin for th dy nd wkly drop of 2.52%. Rsistnc nr $134.56 hs provn difficult to brk, rising concrns tht bullish momntum my b wkning.
Key Indicators Suggest Possible Pullback
Th Rltiv Strngth Indx (RSI) sits t 52.56, suggsting th mrkt is in nutrl stt. If RSI flls blow 50, it could signl incrsd slling prssur, potntilly pushing Litecoin towrd ky support lvl nr $110.
Th Moving Avrg Convrgnc Divrgnc (MACD) indictor is lso showing brish signs. With th MACD lin t 2.28 nd th signl lin t 2.70, brish crossovr hs formd. Additionlly, th histogrm hs dippd slightly into ngtiv trritory t -0.42, hinting t potntil short-trm downsid movmnt unlss it holds bov $120.
A prominnt crypto nlyst Ali Martinez rcntly sttd, For Litecoin to confirm bullish brkout, it must sustin dily cndlstick clos bov $136. Som prdictions rmin optimistic bout Litecoins futur. According to CoinCodx dt, Litecoin could rlly s high s $224 by April 2025 if mrkt conditions lign. Tht would rprsnt 79% gin from its currnt pric, rinforcing long-trm confidnc in th sst.
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Read more: https://www.tronweekly.com/litecoin-gains-25-against-bitcoin-in-february-but-a-pullback-looms/
Text source: TronWeekly
