Litecoin’s (LTC) price has increased by 6.70% today and reclaimed the $70 level for the first time in nearly two months. This notable increase comes after investment firm Canary Capital disclosed that it is pursuing a Litecoin exchange-traded fund (ETF) with the SEC.

With the ETF filing acting as a catalyst, this on-chain analysis highlights how Litecoin’s price could experience a substantial surge. Should Litecoin’s price continue to rise, investor interest may surge. This could also allow long-term holders to unlock profits after months of volatility.

ETF Speculation Lifts Litecoin

Litecoin’s 6.70% price increase today positions it as one of the top gainers out of the top 100 coins. Data from CoinGecko shows it is only behind Dogecoin (DOGE), which has surged by 8% over the last 24 hours. 

As mentioned above, Canary Capital’s announcement of its pursuit of a Litecoin ETF with the US SEC is the rally’s driving force. Despite that, on-chain data from IntoTheBlock reveals that a significant portion of Litecoin holders have not yet benefited from the recent price surge.

According to the In/Out of Money Around Price (IOMAP) metric, around 840,000 LTC addresses bought their coins between $71.54 and $81.14. This suggests that these holders are still “underwater,” as the current price of LTC remains below their entry levels. 

Read more: Litecoin vs. Ethereum: What’s the Difference?

Until LTC surpasses this level, those who purchased in this range might continue to face selling pressure as they seek to break even. However, if Litecoin’s price continues to climb, these holders may be poised to unlock significant profits. Consequently, this could also Litecoin to break through to $80.14.

Beyond this, Litecoin Open Interest climbed to $243.09 million. OI, as it is commonly called, refers to the sum of the value of open contracts in the market. When it decreases, traders remove liquidity from contracts linked to cryptocurrency.

An increase, on the other hand, indicates a rise in speculative activities with LTC. From a trading perspective, rising OI and price could lead to further price appreciation. 

LTC Price Prediction: Free from Bearish Channel

Litecoin has shown impressive price action following the news of the ETF filing, breaking out of its previous descending channel. This breakout signals a potential shift, possibly ending the bearish pressure that had been holding LTC back in the short term.

If this positive momentum continues, Litecoin’s value could see a significant 35% jump that could take it to $95.60. In a more bullish scenario, LTC price could surpass the $100 mark again, rekindling investor confidence and drawing in more buying activity.

Read more: How To Buy Litecoin (LTC) in 4 Easy Steps

However, it’s important to monitor developments surrounding the ETF filing with the SEC. If the chances of approval begin to diminish, LTC could fall back to around $63.40. This scenario would highlight the impact that regulatory uncertainty can have on both short-term and long-term price movements.

First Neiro on Ethereum (NEIRO) is experiencing a price pullback after a prolonged surge that saw the meme coin hit several all-time highs over the past month.

Now trading at $0.0020, NEIRO has dropped 14% in the last 24 hours, making it the top market loser.

First Neiro on Ethereum Sees Spike in Selloffs

An uptick in trading volume has accompanied NEIRO’s double-digit decline over the past 24 hours. During the period in review, this has totaled $685 million, climbing by 12%. 

When an asset’s price declines but trading volume rises, it suggests investors are selling off to lock in profits after significant gains. Higher volume during price drops may also indicate panic selling, as traders rush to exit positions in response to falling prices, potentially accelerating the decline.

Read more: 12 Best Altcoin Exchanges for Crypto Trading in October 2024

The decline in NEIRO holdings among whales, or large investors, reinforces this bearish outlook. Over the past week, NEIRO whales holding between 1 million and 100 million tokens have steadily reduced their exposure.

On-chain data reveals that this group now consists of 1,252 addresses, having seen a 5% drop in their count in just seven days. A decline in large holders can signal that the asset is becoming less attractive, leading to decreased trading activity.

NEIRO Price Prediction: A Resurgence In Demand Is What Is Needed

Readings from NEIRO’s moving average convergence/divergence (MACD) indicator show that its MACD line (blue) has crossed below its signal line (orange) and is in a downtrend toward the zero line. 

When the MACD line falls below the signal line, it suggests that the market momentum is shifting from bullish to bearish, indicating that selling pressure may be increasing. Further movement toward the zero line suggests a strengthening downtrend. If this persists, NEIRO’s price will extend its downward trend and may fall by 55% to $0.00091.

Read more: Best Crypto To Buy Now: Top Coins To Keep an Eye on in October 2024

However, if it witnesses a resurgence in demand, the NEIRO’s price may reclaim its all-time high of $0.0023 and attempt a rally past it.

Dogecoin (DOGE), a fan-favorite cryptocurrency with a history of community-driven growth, is now a disappointment to many investors. This is because, unlike their counterparts, DOGE has failed to take advantage of the widespread effects of the market movements, which worries a certain section of the community. 

While the excitement surrounding Dogecoin may have faded, investors are now seeking, among other things, new promising substitutes. The surge of demand for Rexas Finance (RXS) is worth mentioning in this regard, with the blockchain platform focusing on the tokenization of real-world assets (RWA). That is why many insiders are expecting more upside for Rexas Finance than Dogecoin during the coming bull run.

Backlash against Dogecoin: Price drops and investor disappointment

Over the past several months, Dogecoin has been unable to generate any real upward movement, notwithstanding the expanded uptrend of the overall cryptocurrency market. Now traded at $0.105, CoinMarketCap data showed that there was a 6.06% drop in the value of the DOGE token over a week. The long-gone effect of this strategy has brought concerns to most investors in regard to the return on the token, as it is mildly positive at the position towards future developments.

Recent analysis suggests that if DOGE breaks past the current support level of $0.096 now retained, the cryptocurrency may face more slumps to levels as low as $0.080. Compounding the bearish narrative is an important transaction executed by a Dogecoin whale, who in one recent transaction moved 118 million DOGE, worth $13.3 million, to the Binance exchange. This has raised concerns that the price of the coin will eventually plummet again, thereby causing even more price drops.Still, some groups of analysts have not given up hope for a short-term spike, and the tools that could facilitate that, such as the Relative Strength Index (RSI), are waving for a move up to $0.15, but generally, sentiments towards the cryptocurrency DOGE, more so to the masses, are still pessimistic. Nowadays for a lot of investors, this state of things is causing a great deal of frustration and many have started looking for other currencies that would be able to move up more actively and thoroughly.

Rexas Finance (RXS): A promising alternative

Bucking the downward trend seen with Dogecoin, Rexas Finance (RXS) as on a growth trajectory and some analysts believe it could be well placed for high returns during the next bull run. 

Rexas Finance could also offer more sustainable growth due to its inherent utility, allowing and facilitating the tokenization of real estate on its blockchain infrastructure itself. What captivates the users of Rexas Finance is the possibility of using the platform without any special design skills to bring the tokenization of the assets to a broader audience. With proper development and advancement in technology, Rexas Finance has established itself as one of the few players in this new space of tokenization of real-world assets, which is likely to boom in the near future.

Rexas Finance’s impressive presale progress

One of the key factors that has been responsible for the interest generated in Rexas Finance is the success of its presale stages. The platform’s fourth presale stage has shown tremendous success, raising $2,831,856 and selling 66,364,255 RXS tokens at 0.060 USD per RXS token. Even as the next stage is set to take the token price to $0.070, early investors are already making returns, raising even more interest in the project.

Rexas Finance has also initiated the Rexas Millionaire Giveaway, a promotional campaign that will see twenty beneficiaries walk away with 50,000 USDT each. This has resulted in great activity in the community and increased interest in the presale. The continuous inflow of investors in a bid to buy RXS tokens at a cheaper price is indicative of the fact that the platform will be doing quite well even as it heads to 2025.

Could Rexas Finance (RXS) outperform DOGE in 2025?

Due to the current challenges that are surrounding Dogecoin as well as the uncertainty of its future, some investors have continued to ask themselves if DOGE is a coin worth buying for the long term. With the price moving sideways for a long time and the technical indicators suggesting more price declines, DOGE does not seem to have much potential in any of the price spikes expected during the next bull run. 

By contrast, Rexas Finance is looking increasingly more attractive to prospective investors, especially those who want to ride on the tokenization of real-life assets, which continues to surge.

With its unique business model, successful presale, and growing support of the community, Rexas Finance is a project that could have plenty of room for growth. As the technology of blockchain develops and becomes more mainstream, projects like Rexas Finance that seek to create useful applications in the real world will probably experience tremendous growth.

Rexas Finance could therefore represent an ideal candidate for Dogecoin investors looking for alternatives to ride the next wave of the cryptocurrency market. Rexas Finance seeks to eradicate most of the barriers associated with asset tokenization all while promising constant improvement. 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance