Recently, the price of Litecoin (LTC) has been fluctuating in a falling wedge pattern, with the current trading price around $112.5. Market predictions suggest that a breakout from this pattern could trigger a pump. This is not just a guess; on-chain data and the derivation market indicate that confidence in a price rise has indeed strengthened – fee collection has reached a seven-month high, and bets by traders on price increases have also hit a monthly peak. Technical trends show that the short positions trend is weakening, which may pave the way for the next wave of rise.

Litecoin has recently attracted significant attention among traders. According to data from Artemis Terminal, fees collected rapidly rose from $1,000 over the weekend to $2,100 on Monday, marking the highest level since January. This indicates that traders and liquidity are increasingly interested in the LTC on-chain. Coinglass's long-short ratio shows the current ratio at 1.11, also reaching a monthly high, meaning that many traders are betting on further price increases. Additionally, LTC's hash rate has tripled in the past 18 months, reflecting enhanced network security and growing confidence among miners in the ecosystem.

Speaking of price predictions, if LTC can break through the upper boundary of the falling wedge pattern, it is expected to continue to rise to the high of $134.29 on August 14. The current price is stabilizing around $106.13 near the 100-day Exponential Moving Average (EMA), having rebounded 4% over the past two days. As of Thursday, this trend reflects that the price is moving towards $112.54. As for technical indicators, the Relative Strength Index (RSI) on the daily chart is close to the neutral level of 50, indicating that short positions are weakening. The Moving Average Convergence Divergence (MACD) line is approaching, and the red histogram is also decreasing, suggesting a potential bullish crossover in the upcoming trades. However, if the price encounters a pullback, it may fall back to around $106.13 to seek support.

Overall, Litecoin's market trends and technical aspects demonstrate a positive outlook, with investors and traders holding high expectations for its performance in the near future. However, as the market is always filled with uncertainties, it is essential to remain cautious in the face of potential pullback risks. What are your thoughts on Litecoin's future trends? Any special feelings, feel free to leave a comment and chat!