Litecoin (LTC) Price Analysis: Potential Rise to $115 by Next Week

Litecoin (LTC) Price Analysis: Can It Reach $115 By Next Week?

The Litecoin (LTC) price rose 11% in three days, but is there more room for growth? Technical indicators suggest so. The coin's RSI remains healthy, indicating there's still room for bulls to push prices higher.

Litecoin RSI Is Still Healthy Despite the Recent Price Growth

The Litecoin RSI has exhibited a notable uptick in the last two weeks, climbing from 60 to its current level of 67. The Relative Strength Index (RSI) serves as a valuable tool for gauging an asset's relative strength and pinpointing potential turning points.

• The RSI reflects the overall momentum behind price movements by comparing the magnitude of recent gains to recent losses.
• This indicator ranges from 0 to 100, with readings above 70 generally considered indicative of overbought conditions.

Traders Are Still Growing

A deeper dive into LTC holder trends reveals a constant rise in short-term holders. These traders, holding LTC for less than a month, grew from 429k to 529k between February 18 and March 25.

1. This surge in short-term ownership comes with a potential downside, increased volatility, as short-term traders are known for rapid buying and selling.
2. The shift towards short-term traders and away from long-term believers could impact LTC's price with price swings.

LTC Price Prediction: EMA Lines Just Formed a Golden Cross

LTC's recent price surge could be the start of a new bull run as the short-term EMA lines crossed above the long-term EMA lines, forming a Golden Cross.

• EMA Lines are technical analysis indicators that react swiftly to market changes and identify trends with greater accuracy.
• A return to $105 for LTC wouldn't be surprising given the influx of short-term traders and the favorable EMA positioning, possibly driving LTC towards $115.