Litecoin (LTC) was one of the best-performing assets last week, but a significant pullback was triggered by dumping news events. Despite inflation concerns limiting the gains of BTC ( BTC ) and Ethereum (ETH), hovering around $97,000 and $2,700 respectively, Litecoin has been driven by bullish sentiment as the U.S. Securities and Exchange Commission recognizes Grayscale and 21Shares have submitted new ETF filings for DOGE and XRP.

On February 13, LTC price soared to a 30-day high of $137, then sharply pulled back to $126.4 at the time of writing, down 5.7% in 24 hours. This decline is in line with the typical profit-taking scenario, where traders cash in profits after significant announcements.
However, if the network fundamentals do not deteriorate or major negative news emerges, bullish investors can take advantage of this pullback. If LTC stabilizes above $120, newcomers may seize this opportunity to mitigate further downside risks and set the stage for a rebound.
After the SEC acknowledged the DOGE and XRP filings, there was a surge in demand for Litecoin whales
In addition to short-term volatility, Litecoin's whale accumulation pattern suggests a possible price recovery. A key metric to support this view is the average transaction size of IntoTheBlock, which tracks the average dollar value of transactions on the Litecoin network, providing insight into whale activity.
IntoTheBlock's data shows that on February 8th, the average transaction size of LTC dropped to a monthly low of $45,190. However, with the SEC's acknowledgment of DOGE and XRP ETF applications, as of February 15th, this number rebounded to $54,000. This increase indicates that despite the recent price pullback, wealthy investors are still accumulating LTC.
Whale hoarding usually indicates confidence in long-term price increases. With more and more institutional investors entering the altcoin space due to ETF speculation, LTC may benefit from increased liquidity and a new round of upward trends.
Litecoin (LTC) price prediction: bullish momentum remains strong if it maintains support at $120
Litecoin price predictions indicate that the $120 support level is crucial for determining the next move. If LTC maintains this level, the bullish momentum may resume and could potentially retest $130 in the coming days. Successfully breaking this resistance level may pave the way for another attempt at $137 (recent high point).
Technical indicators present a mixed picture. The MACD histogram has turned into the negative zone, indicating a slowdown in momentum, but the decreasing dumping pressure may lead to a rapid price rebound. In addition, the Keltner channel analysis shows that LTC is consolidating within a narrow range, which could be a precursor to an expansion in volatility.
If the bear breaks through $120, LTC may fall to the next key support at $117, where buyers may intervene again. However, if the whales continue to accumulate, the path of least resistance remains to the upside, thus strengthening the bullish outlook.