Litecoin Surpasses $100 Amid Record On-Chain Activity: Insights and Future Projections
Highlights
Rising Transaction Volumes: What It Means
Litecoin's surge in on-chain volume, combined with increased whale activity, demonstrates strong confidence among its users.Future Price Movements for Litecoin
There is potential for Litecoin to reach $118 or even $132 this month, though further upward movement may encounter resistance.Litecoin [LTC] has once again crossed the $100 threshold, a notable achievement since the market dip on October 10. At the time of reporting, LTC was trading at $109. This development comes as Bitcoin [BTC] also experienced a 4% increase, reaching $105.7k, possibly indicating a shift in market sentiment.
Is a Litecoin Recovery on the Horizon?
Recent data from Santiment Insights reveals an uptick in the number of large-scale Litecoin holders. The number of wallets with over 100k LTC has increased by 6% over the past quarter, suggesting accumulation among major stakeholders. Furthermore, Litecoin's on-chain volume has reached an unprecedented $15.1 billion daily, reflecting robust market activity and potential for sustained growth.
Despite these positive indicators, other on-chain metrics suggest caution. The 180-day Market Value to Realized Value (MVRV) ratio has entered positive territory, potentially prompting profit-taking. Additionally, the mean coin age decreased significantly at the end of October, indicating a neutral rather than bullish trend. Development activity has also remained stagnant since September, raising questions about long-term momentum.
Analysis of the Fixed Range Volume Profile for 2025 identifies key resistance levels at $118 and $132, with the Point of Control at $118.2. While the market structure remains bullish, these resistance zones could present significant challenges to further price advances.