Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off

Source Fxstreet
  • Litecoin price briefly touched the $105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during the market crash on December 20.
  • Litecoin miners held reserve balances steady in the last three days after offloading 210,000 LTC between December 15 and December 20.
  • Litecoin’s Volume Delta technical indicator flipped into positive values, signalling an increase in buying momentum.


Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?  

Litecoin snaps 22% rebound to retake $100 territory 

Hawkish United States (US) Federal Reserve (Fed) statements triggered a massive crypto market downturn last week, sending the likes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) into double digit-losses.

But as the dust settled over the weekend, strategic crypto traders capitalized on the falling prices to enter new positions. 

While BTC and ETH retook key resistance levels at $96,000 and $3,300 respectively, LTC price has also shown early signs of an impending bullish reversal. 

Litecoin price action | LTCUSDT (Binance)

The LTCUSDT daily chart above shows how Litecoin price fell to the monthly time frame low of $87 on December 20.

However, bull traders buying the dip dominated the LTC markets over the weekend, driving up prices 22% to briefly reclaim $105 in the early hours of Monday. 

Litecoin miners halt $200 million selling spree

Amid last week’s market crash, Litecoin emerged as one of the biggest losers, declining 34% between December 17 and December 20.

On-chain data shows panicking miners also contributed to the accelerated LTC price decline, selling off large quantities of their reserves amid the market sell-off. 

Affirming this stance, IntoTheBlock’s miner reserve chart below monitors real-time changes in miners' trading activity around key market events.

Litecoin Miners Reserves vs. LTC Price | Source: IntoTheBlock

Between December 16 and December 20, Litecoin miners sold off a significant 210,000 LTC, reducing their reserve balances from 1.54 million to 1.35 million LTC.

This reflected panic among miners, likely triggered by the US Fed’s hawkish statement during that period.

However, in the three days that followed, miners stabilized their holdings at 1.35 million LTC, indicating an end to the initial wave of panic-driven selling.

When miners stop selling during a market downturn, fewer newly minted coins flow into the short-term market supply.

This reduction in selling pressure, coupled with miners holding onto their reserves, creates favorable conditions for a price rebound. 

Litecoin price forecast: $115 resistance looming large

Litecoin price has reclaimed the $103 level after a 22% surge, but challenges loom ahead.

The Donchian Channels indicate that LTC remains below the upper boundary at $116.88, which aligns with a key resistance level.

If bullish momentum falters near this threshold, it could trigger a retracement as sellers re-enter the market.

While the Volume Delta has flipped positive, signaling an uptick in demand, the lack of sustained volume growth raises concerns about the rally's strength.

Without consistent buying pressure, LTC could struggle to break above the $115 resistance convincingly.

Litecoin Price Forecast | LTCUSDT (Binance)

On the downside, the first support level lies at the lower Donchian Channel boundary of $86.69.

A breach of this level could expose LTC to further losses toward the psychological $80 mark.

The bearish scenario would likely materialize if market sentiment deteriorates or if miners resume selling pressure, increasing short-term supply.
 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
EUR/USD Price Forecast: Bounces off 1.1300 neighborhood; shows resilience below 23.6% Fibo.The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
Author  FXStreet
4 Month 23 Day Wed
The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
placeholder
Top 3 gainers Fartcoin, Zerebro, DeepBook: Solana and Sui meme coins soar on bold risk-on waveMeme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
Author  FXStreet
4 Month 23 Day Wed
Meme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
placeholder
Dogecoin (DOGE) Pulls Back — Is A Bounce from $0.1650 Support on the Horizon?Dogecoin started a fresh increase above the $0.1700 zone against the US Dollar. DOGE is now correcting gains and might find bids near the $0.1650 zone. DOGE price started a decent upward move above
Author  NewsBTC
21 hours ago
Dogecoin started a fresh increase above the $0.1700 zone against the US Dollar. DOGE is now correcting gains and might find bids near the $0.1650 zone. DOGE price started a decent upward move above
placeholder
DeFi Dev Corp buys additional 65,305 SOL amid broader institutional interest: Solana price slides below $150Solana (SOL) price faces growing overhead pressure and slides below $150 to trade at $148 at the time of writing on Thursday. The sudden pullback follows the crypto market's edging higher on improving investor sentiment, which saw SOL climb to $154 on Wednesday. 
Author  NewsBTC
21 hours ago
Solana (SOL) price faces growing overhead pressure and slides below $150 to trade at $148 at the time of writing on Thursday. The sudden pullback follows the crypto market's edging higher on improving investor sentiment, which saw SOL climb to $154 on Wednesday. 
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
21 hours ago
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Related Instrument
goTop
quote