1. Summary of recent price movements
• Litecoin (LTC) surged 35% this week, reaching a high of $131.50 on Binance.
• This increase stems from strong market momentum, especially the accumulation from miners with a buying value of around 18 million USD (140,000 LTC).
2. The role of miners in the price surge
• Accumulating a large amount: Miners have been buying heavily from December 10 to December 16, reducing the supply of new coins on the market.
• Increased buying pressure: This accumulation creates a positive psychological effect, attracting more traders, thereby boosting demand.
• Bullish signal: Historical data shows that miners' accumulation is often an early indicator of major price increases.
3. Important price levels and next targets
• Key support: $118 is an important foundational price level. If it holds above this level, LTC has the potential to maintain its upward momentum.
• Key resistance: $127 is currently the nearest resistance level. Breaking this level could push the price up to $135 and further to $150.
• Adjustment risk: If the price drops below $118, LTC risks adjusting to $100.56.
4. Potential forecast to reach $150
• With increasing trading volume and buyers' confidence, LTC has a great opportunity to break through resistance levels.
• As long as miners continue to buy heavily and market demand remains stable, the target of $150 is feasible in the short term.
5. Conclusion
Litecoin is in a strong growth phase, supported by miners' accumulation and high market demand. However, investors should pay attention to key price levels such as $118 and $127 to make appropriate decisions. The target of $150 could be achieved if current supportive factors continue to play out.