Cryptocurrencies Price Prediction: Litecoin, Chainlink & Solana – European Wrap 3 December
|Litecoin Price Forecast: LTC rebounds on rising retail demand as Vanguard’s ETF move supports crypto markets
Litecoin (LTC) is up 3% by press time on Wednesday amid increased demand for cryptocurrencies with listed Exchange Traded Funds (ETFs), as the Vanguard Group has approved third-party ETFs on its platform. Derivatives data reveal a surge in demand, even from large-wallet investors, corroborating the rebound within a falling wedge pattern, suggesting further gains.
Litecoin, one of the blue-chip cryptocurrencies with an ETF, is gaining momentum following Vanguard Group’s decision to allow crypto market exposure through third-party ETFs. This decision extends exposure to the Canary Litecoin ETF (LTCC) for its conservative investors, potentially increasing capital flows into digital assets.
Chainlink Price Forecast: Rising momentum fuels rally after Grayscale ETF launch
Chainlink (LINK) rises by almost 7% at press time on Wednesday, underpinned by the launch of Grayscale’s LINK Exchange Traded Fund (ETF) on Tuesday. Derivatives data show an increase in retail interest, as futures Open Interest jumps by over 20% in the last 24 hours. The technical outlook is bullish as LINK gains traction and aims to surpass the Supertrend line.
Chainlink has emerged as one of the top-performing assets in the broader cryptocurrency market over the last 24 hours amid the launch of the Grayscale Chainlink Trust ETF (GLINK) on Tuesday. According to Sosovalue, Tuesday's trading volume was $13.81 million, while the official daily flow data has not been released by press time.
Solana Price Forecast: Rising demand in SOL ETFs and derivatives boosts bullish rebound
Solana (SOL) trades above $140 by press time on Wednesday, up over 10% in the last 24 hours as Vanguard offers crypto Exchange Traded Funds (ETFs), including Solana ETFs. The sudden recovery boosts risk-on sentiment in Solana derivatives as investors anticipate further gains. Technically, the outlook for Solana centers on a potential double-bottom breakout targeting the 50-day Exponential Moving Average (EMA).
Vanguard's crypto-focused ETFs, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP), are heating up the cryptocurrency market. Solana is experiencing a renewal in institutional demand with a net inflow of $45.77 million on Tuesday, flipping up from a net outflow of $13.55 million on Monday. Typically, an increase in ETF inflows signals better odds of further recovery and boosts investor confidence.
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