Litecoin Makes Surprise 14% Rally—Analyst Eyes A Move To $128

Christian Encila

4 months ago

3 mins read

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Rising by 14% in the face of a broad general market volatility, Litecoin (LTC) is once more displaying its strength in the crypto scene. LTC dropped briefly to $102, then swiftly recovered and today rests securely above the $120 support zone.

As positive momentum builds, experts are wondering whether Litecoin can reach the next crucial level: $128. At its current price of $127, it’s just a matter of time (hours?) before LTC can easily hit $128.

Strong Recovery After Market Dip

Traders have been drawn to Litecoin lately, particularly given its remarkable 25% increase over the past 30 days. LTC has kept a consistent climb while Bitcoin and other big cryptocurrencies have somewhat been shaken.

Litecoin dropped momentarily to $105 on February 10 then quickly recovered, indicating substantial buyer demand at reduced levels. Now considered as a crucial support zone, the $120 mark will help LTC brace for another leg up as long as it holds.

🧨 $LTC is breaking out of this ascending triangle as predicted! The target is $128🎯

Trade #Litecoin on Bitunix – https://t.co/GzXaATj3Ps and get a free $100 after your first $500 deposit! pic.twitter.com/UGD4Qq1aa5

— Carl Moon (@TheMoonCarl) February 10, 2025

Market Sentinel Sees A Move To $128 And Above

With some experts seeing a breakthrough toward $128 in the near term, market watchers are upbeat about Litecoin’s trajectory.

Should positive sentiment persist, the next main obstacle falls between $128 and $130. A clean break above this area would let the door open for a push toward $150 or possibly $170 in the next weeks.

The past performance of Litecoin in pre- and post-halving cycles is one of the elements fostering this optimistic view. Some analysts contend that Litecoin’s present surge is still part of its extended bullish phase.

Litecoin ETF Speculation Adds Fuel To The Fire

Speculation about a possible Litecoin exchange-traded fund (ETF) is another main driver behind Litecoin’s current surge. Although Bitcoin ETFs are already causing stir in the market, investors are also considering other assets that would profit from same regulatory approval.

Odds of Litecoin ETF approval at 90%.

I’m fine if folks want to buy it. It’s a free country

But why? It’s a decade old ghost chain with no discernible purpose. https://t.co/XNsNqxfDfp

— Jeff Roberts (@jeffjohnroberts) February 11, 2025

Should an LTC ETF be greenlit – which at the time of writing has a solid 90% odds of approval, according to an X user – it would give institutional investors a controlled approach to expose themselves to crypto, hence maybe generating large asset inflows.

While no official confirmation has been made, growing speculation alone has been enough to spark increased interest in LTC.

LTC market cap currently at $9.67 billion. Chart: TradingView.com

Litecoin: What’s Next?

Litecoin is barely one dollar away from its target, and all eyes are on whether it can surpass the $128 barrier level, according crypto analyst Carl Moon. Should the overall market stay steady and sentiment remain favorable, a move past $130 could be just ahead.

Featured image from Gemini Imagen, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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