- Santiment data revealed that 1,185 addresses have been created with more than 100 LTC.
- The altcoin’s price was able to cling by more than 2% over the past 24 hours.
- A daily close above $95 today may result in LTC climbing to $105 next week.
Yesterday, the on-chain analytic platform Santiment revealed that the Litecoin (LTC) halving, which is just 12 days away, was generating a lot of trader enthusiasm. In just the past 24 weeks, Santiment data indicated that 1,185 more addresses have been created that own at least 100 LTC.
As a result, about 36.8K wallets in total had at least 100 LTC. Today, one day closer to the halving event, CoinMarketCap indicated that the altcoin’s price was able to climb by more than 2% over the past 24 hours.
This left LTC trading at $94.48, which was slightly closer to its daily high of $96.15 than its 24-hour low of $91.96. Meanwhile, LTC’s 24-hour trading volume ended up falling by 6.45% throughout the past day. Consequently, the token’s volume stood at $516,422,670.
Despite LTC’s latest price increase, its weekly performance was still in the red at -0.90%. Furthermore, the market cap of LTC stood at $6,940,033,001 at press time, which meant that it was ranked as the 12th largest cryptocurrency in this regard. This placed it on the heels of Polygon (MATIC) with its market cap of $7,203,810,793.
LTC’s price was attempting to challenge the major resistance level at $95 at press time. It was able to break above the price point earlier in today’s trading session, but bears defended the mark – forcing the altcoin’s price back down.
Nevertheless, a short-term bullish technical flag was on the cusp of being triggered as the 9-day EMA line was looking to cross above the 20-day EMA line. Should these two technical indicators cross, it will signal that LTC’s momentum was in favor of bulls and the cryptocurrency’s price may rise over the next few days.
In this scenario, LTC will most likely flip the aforementioned $95 resistance into support and continue to rise towards the next key level at $105 in the coming few days. On the other hand, LTC’s price closing the next 2 daily candles below $95 will invalidate this bullish thesis. This may result in LTC dropping to the crucial support at $89.
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