Bitcoin price continues its volatile movements, yet after a recent local low, it has turned upwards again. Buyers stepped in before it was too late, preventing the price from falling below $50,000. Despite a dip in the leading cryptocurrency, LPT Coin has seen an increase of over 155% in the last three days.
The LPT Coin Whale
As recently reported by Lookonchain, a major LPT Coin whale has made a move. The rapidly rising price brought a 155% gain in the last three days, leading the whale to transfer a portion of their holdings to an exchange. Lookonchain shared the following on their social media account;
“This whale (below) deposited 100,000 LPT to MEXC and then withdrew 65,000 LPT, likely selling 35,000 of them. The whale currently holds 212,371 LPT ($3.93 million) with total profits exceeding $3.5 million.”
LPT Coin Price Prediction
Although LPT Coin has experienced a significant drop from its recent peak of $20.9, it remains at a much better level than a few days ago. At the time of writing, the altcoin is finding buyers at $18.5, continuing to stay above 501% of its June 11, 2023 low. The rise that started on February 16 was completed with a one-day candle showing an 86% increase in price.
LPT Coin, one of the top gainers on the Binance exchange today, maintains a positive outlook as it holds above the $18 level. Despite selling pressure in this area yesterday, the price may now attempt to overcome the $20.9 barrier again.
The weekly chart highlights the significance of yesterday’s barrier even more. The price had experienced a sharp drop from this point to $11.5 during the week of May 9, 2022. It then failed to revisit this level for 644 days. After 64 weeks, LPT Coin has the opportunity to reverse the long-term downtrend and could rise to $25.19 and $29.25.
Despite the potential for further rise and targets, LPT Coin continues to trade well below its peak of $101 and lacks strong support down to $10.8 in the event of a possible pullback (as per the weekly chart).
