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Halving Hype Lifts Litecoin: Analyst Sees 400% Price Increase Coming

Litecoin (LTC), the digital currency often dubbed “silver to Bitcoin’s gold,” has been stirring in the shadows of its flashier counterpart. Despite a recent price dip from $112 to $83, analysts see glimmers of a potential surge in the coming months.

This renewed optimism follows Litecoin’s defiance during the highly anticipated Bitcoin halving event, where Bitcoin’s block rewards were cut in half, impacting the entire crypto market.

Litecoin Exhibits Resilience After Price Dip

While some cryptocurrencies floundered after the Bitcoin halving, Litecoin displayed surprising resilience. This, coupled with a recent uptick in trading volume reaching $686 million over 24 hours, suggests a growing interest in LTC.

The cryptocurrency currently sits at a market capitalization of $6.18 billion, solidifying its position as a top contender.

Technical Breakout Hints At Bullish Future For Litecoin

Technical analysts are particularly enthusiastic about a recent development for Litecoin. The digital currency appears to be breaking out of a multi-year symmetrical triangle pattern.

This technical indicator often signifies a shift in market dynamics and underlying strength within an asset’s structure. While a retest of the pattern is underway, a successful breakout could be a major turning point for LTC.

A well-known person in the crypto analytical world, World of Charts, has taken advantage of this technical advancement and made a daring prediction for Litecoin.

Their prediction depends on how well the present breakout goes. World of Charts forecasts an incredible “middle bullish wave” for LTC if it can continue to gain strength and break free of the triangular pattern. This might result in a possible increase of 300–400% over the course of the next few months.

Experts Remain Cautious Despite Optimism

The cryptocurrency market, however, remains a land of unpredictable twists and turns. While analyst predictions like World of Charts’ are certainly attention-grabbing, industry experts urge caution. The inherent volatility of the market means even well-supported forecasts can be thrown off course by unforeseen events.

Furthermore, some analysts point out that Litecoin faces competition from newer, faster-growing altcoins vying for investor attention.

Whether LTC can recapture its past glory and establish itself as a true silver lining in the ever-evolving crypto market landscape remains to be seen.

The Road Ahead For Litecoin

The coming months will be crucial for Litecoin. A successful breakout from the symmetrical triangle pattern, coupled with sustained investor interest and trading activity, could propel LTC towards a significant price increase.

Featured image from Pixabay, chart from TradingView

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Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold?

Litecoin (LTC) is proving its toughness in the wild world of crypto. Even with recent ups and downs in the market, Litecoin is holding steady, making investors hopeful about its future. While its price dipped a bit, experts and some charts are pointing towards a big comeback for LTC.

Stability In The Midst Of Market Swings

Litecoin’s recent performance stands in stark contrast to the broader market trend. While its price did experience a correction, dropping from a peak of $112 to its current value around $81.12, the decline has been relatively muted compared to other cryptocurrencies.

Analyst Insights And Bullish Predictions

Financial experts are taking note of Litecoin’s recent performance. Matthew Dixon, CEO of Evai.io, has highlighted LTC’s resilience compared to Bitcoin during this period of market volatility.

He attributes this stability to the possibility that Litecoin may have already completed a corrective phase, a period of price adjustment often followed by an upward trajectory. This suggests that Litecoin could be poised for significant growth in the near future.

Adding to the optimistic outlook is respected crypto analyst World Of Charts. Their analysis suggests advantageous entry points for investors considering Litecoin. Additionally, they have identified a robust support level, which acts as a price floor and prevents excessive downward movement.

Based on these factors, World Of Charts forecasts a target range of $250 to $300 for LTC in the coming months, expressing strong confidence in its potential for substantial growth.

Litecoin Starts Q2 With A Dip, But Investors Eye Rebound

Litecoin (LTC) has gotten off to a rocky start in Q2, with its price falling 12% from $112 to $96. This decline can be attributed to two main factors. First, a broader market correction is impacting cryptocurrencies across the board. Second, some investors who bought in during Litecoin’s Q1 surge from $72 to $112 may be taking profits, further pressuring the price.

Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid?

Despite the recent slump, there are reasons for Litecoin investors to remain optimistic. Many investors still believe in the long-term potential of LTC, and some experts predict a price rise to $150 by June. The upcoming Bitcoin halving event, which some believe will drive up Bitcoin’s price, could also have a positive spillover effect on Litecoin.

Featured image from Pixabay, chart from TradingView

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Litecoin (LTC) Breaks Records: 5 Million Long-Term Holders Signal Major Market Shift

Recently, reports from IntoTheBlock revealed that the Litecoin (LTC) network has exceeded five million long-term holders. This achievement represents approximately 62.5% of all LTC addresses with a balance, underscoring Litecoin’s widespread adoption and long-term viability within the crypto community.

Rising Long-Term Holder Trend Signals Optimism 

The surge in long-term holders has been particularly noticeable in recent months, underscoring a growing inclination towards holding LTC for quite a long time. In February’s closing days alone, the number of long-term holders soared by 170,000, signaling robust investor confidence in Litecoin’s long-term prospects.

In tandem with this surge in long-term holders, the number of individuals holding LTC for more than a year has steadily risen, now totaling 2.54 million addresses. Apart from the numerical growth, the profitability of holding LTC over the long term adds another dimension of interest.

According to on-chain data, roughly 67.67% of all LTC addresses currently stand in profit, collectively holding 49.76 million LTC. In contrast, approximately 26.8% of LTC holders, totaling 2.15 million addresses, are currently at a loss.

Meanwhile, a smaller segment, constituting 5.53% of holders, is situated at breakeven, which means they are neither in a loss nor a profit.

Addresses currently holding in Litecoin (LTC).

Bullish Sentiment Surrounds Litecoin Amidst Rumors of ETF Approval

So far, Litecoin has seen relatively stable movement, experiencing a minor increase of 0.3% over the past week, followed by a slight downturn of 0.1% in the last 24 hours. As of the current writing, LTC is trading at $96.72.

Litecoin (LTC) price chart on TradingView

Despite the altcoin’s current stability in price, analysts such as World of Charts anticipate a potential surge in the coming months, with projections suggesting a climb to $400. This bullish momentum is fuelled by growing institutional interest, particularly surrounding rumors of a potential LTC Exchange-Traded Fund (ETF).

Fox Business journalist Eleanor Terrett has hinted at institutional intrigue towards a Litecoin ETF, citing LTC’s functional similarities to Bitcoin as a potential factor in its approval by the US Securities and Exchange Commission (SEC).

Additionally, Coinbase Derivatives’ recent launch of futures contracts for Litecoin further contributes to the buzz surrounding the cryptocurrency.

Renowned crypto analyst Luke Martin echoes this sentiment, suggesting that the approval of an Ethereum ETF could pave the way for other “old altcoins” like Litecoin to gain regulatory approval. Martin emphasizes that LTC and Dogecoin may have a stronger case for not being classified as securities, particularly in comparison to Ethereum.

Featured image from Unsplash, Chart from TradingView

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Litecoin Price Prediction: LTC Rally Could Extend To $120

Litecoin price is up over 10% and trading above $105 against the US Dollar. LTC could continue to rise toward the $120 resistance zone in the near term.

  • Litecoin is showing positive signs from the $95 support zone against the US Dollar.
  • The price is now trading above $105 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair (data feed from Kraken).
  • The price could continue to rise toward the $120 level unless it breaks the $100 support.

Litecoin Price Gains Bullish Momentum

In the past couple of days, Litecoin gained pace and outperformed Bitcoin and Ethereum. LTC price formed a base above the $80 level and started a decent increase.

There was a break above the $88 and $95 resistance levels. The bulls even pushed the price above $100. There was a clear move above the 76.4% Fib retracement level of the downward move from the $105.71 swing high to the $77.00 low. A new multi-week high was formed at $112.49 and the price is now consolidating gains.

top near $68.40 before it started a fresh decline.

Litecoin is now trading above $10 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $101.50 on the 4-hour chart of the LTC/USD pair.

On the upside, immediate resistance is near the $112.50 zone. It is near the 1.236 Fib extension level of the downward move from the $105.71 swing high to the $77.00 low. The next major resistance is near the $115 level. If there is a clear break above the $115 resistance, the price could start another strong increase.

Litecoin Price Prediction

Source: LTCUSD on TradingView.com

In the stated case, the price is likely to continue higher toward the $120 and $122 levels. Any more gains might send LTC’s price toward the $132 resistance zone.

Are Dips Supported in LTC?

If Litecoin price fails to clear the $105 resistance level, there could be a downside correction. Initial support on the downside is near the $105 level.

The next major support is forming near the $100 level, below which there is a risk of a move toward the $95 support. Any further losses may perhaps send the price toward the $88 support.

Technical indicators:

4-hour MACD – The MACD is now gaining pace in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is above the 65 level.

Major Support Levels – $105 followed by $100.

Major Resistance Levels – $115 and $120.

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Litecoin Soars Past $105 – Is LTC Set For Epic Rally This April?

Litecoin (LTC), the “silver” to Bitcoin’s “gold,” has surged in recent weeks, buoyed by a combination of technical factors, strong investor interest, and strategic accumulation by miners.

The LTC price jumped 12% in the past 24 hours, reaching $106.40. This uptick follows a 40% year-to-date gain, with most of the growth concentrated in the last week. Daily trading volume has also skyrocketed by 175%, indicating a significant influx of investors into the Litecoin market.

Will April Be A Good Month For Litecoin?

Analysts are particularly excited by a potential breakout from a multi-year downtrend. If LTC can maintain its position above $94, some believe it could usher in a new era of sustained growth.

A decisive break and hold above the $122 resistance level could trigger further gains, with some analysts predicting a surge towards $150 or even higher. This price pattern mirrors a successful breakout observed in 2020/2021, adding fuel to the bullish fire.

Popular crypto analyst Rekt Capital has also chimed in, noting the historical significance of similar price breakouts for LTC. He believes a successful retest of the downtrend and subsequent establishment of support could be indicative of a promising uptrend for the cryptocurrency.

Miners Fueling The Rally

One of the key drivers behind the recent surge is the behavior of Litecoin miners. Data from IntoTheBlock reveals that miners have been accumulating LTC at a healthy pace throughout March. They’ve added a whopping 150,000 LTC to their reserves, bringing their total holdings to 2.2 million.

This accumulation strategy reduces the selling pressure of newly minted coins and signals the miners’ confidence in the future price trajectory of LTC.

Open Interest On The Rise

The prevailing bullish sentiment finds reinforcement in the remarkable surge in open interest on Litecoin (LTC) futures contracts. Latest data shows a staggering 45% increase in open interest, signaling a growing optimism among traders regarding the coin’s future trajectory.

This surge in open interest not only reflects heightened confidence in LTC’s potential but also underscores traders’ readiness to explore new positions or bolster existing ones.

Such a robust increase in open interest amplifies the potential for sustained growth, as market participants eagerly position themselves to capitalize on anticipated bullish movements in LTC’s value.

The Road Ahead

Litecoin could be headed to a strong April performance, with strong technical indicators and bullish sentiment driving the current rally. However, responsible investors should always conduct their own research and exercise caution when navigating the ever-turbulent world of cryptocurrency.

Featured image from Pixabay, chart from TradingView

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From $90 To $400 Litecoin: Analysts Bullish On LTC Soaring Trajectory

Litecoin (LTC), the silver to Bitcoin’s gold, has enjoyed a recent price surge, leaving investors cautiously optimistic about its future trajectory.

Over the past week, LTC has seen a 13% increase, with its value hovering nearly $96 at the time of writing.

This bullish run has been accompanied by technical indicators suggesting a potential continuation of the uptrend, but some analysts warn of lurking risks.

Potential Litecoin Price Bump In The Offing

One key driver of optimism is the apparent breakout from a bullish triangle pattern. This technical indicator, identified by popular analyst World of Charts, suggests a potential price surge in the coming months, with some analysts even predicting a climb to $400.

Further fueling the bullish sentiment are on-chain metrics like the MVRV ratio, which suggests the coin might not be overvalued yet.

Additionally, a rise in Daily Active Addresses and transaction volume indicates increased investor activity and trading.

This is further corroborated by a bullish crossover on the MACD indicator and a rising Money Flow Index (MFI), both suggesting potential for further price hikes.

However, not all signals are green. The Network-to-Value (NVT) ratio, which indicates potential overvaluation, has also spiked alongside the price increase. This raises concerns about a possible price correction if the market deems LTC to be overvalued.

While the recent price action for Litecoin is encouraging, it’s crucial to maintain a balanced perspective, analysts caution. Technical indicators can be helpful, but they shouldn’t be the sole decision-making factors, they said.

LTC Hashrate Remains Stable

Meanwhile, the hashrate, a measure of computing power dedicated to mining LTC, has remained stable, suggesting no significant changes in miner activity. However, some analysts worry that a potential drop in hashrate could hinder future growth.

The overall picture for Litecoin presents both opportunities and challenges. The recent price surge and positive on-chain metrics are encouraging signs.

However, potential overvaluation concerns and conflicting technical signals urge caution. Investors should closely monitor both technical and fundamental factors before making any investment decisions.

The coming weeks will be crucial for LTC. If the uptrend continues and the price breaks through key resistance levels, a significant rally could be on the horizon.

If overvaluation concerns materialize or the broader market takes a downturn, a price correction could occur.

Featured image from Pexels, chart from TradingView

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Litecoin ETF Rumors Fuel 10% Surge As Institutions Hint At Interest

Rumors regarding a potential spot Litecoin (LTC) Exchange-Traded Fund (ETF) have sparked a significant price surge, with the digital asset gaining 10% amid speculation of institutional interest. Fox Business journalist Eleanor Terrett, through a post on X (formerly Twitter), unveiled insights suggesting growing institutional intrigue towards a Litecoin ETF.

Terrett shared, “SCOOP: Hearing rumblings on the institutional level about possible interest in a Litecoin ETF. The logic is that because of LTC functional similarities to BTC, the SEC may be more inclined to approve it, possibly even more so than ETH.”

Why A Spot Litecoin ETF Could Be Possible

This statement comes at a pivotal time as the crypto market continues to navigate through regulatory uncertainties and growing interest from traditional financial institutions. Adding to the buzz, Terrett highlighted recent actions by the Coinbase Derivatives to launch futures contracts for Dogecoin, Litecoin, and Bitcoin Cash, all set to begin on April 1st, 2024.

These futures contracts, as detailed, are part of Coinbase’s strategic move to diversify its offerings, leveraging the self-certification approach under CFTC Regulation 40.2(a). This approach permits entities to launch new products without the explicit approval of the CFTC, provided they comply with the Commodity Exchange Act and accompanying regulations.

Moreover, the recent classification of Ethereum (ETH) and Litecoin (LTC) as commodities by the Commodity Futures Trading Commission (CFTC) in its lawsuit against KuCoin has added another layer of legitimacy to the discourse surrounding Litecoin’s regulatory standing. The CFTC’s action emphasizes its view of certain cryptocurrencies as commodities.

Amidst these regulatory clarifications and developments, discussions about the potential approval of a spot Litecoin ETF have intensified. Luke Martin, a renowned crypto analyst, echoed the sentiment, suggesting that the approval of an Ethereum ETF could pave the way for other “old altcoins,” like Litecoin, which may have a stronger case for not being classified as securities.

He stated, “When the ETH ETF launches and passes, the question then becomes especially with the SEC’s track record versus tokens […] there’s other dinosaur old altcoins which you can make almost a stronger case [that] they’re not a security, one that sounds ridiculous but if you think deeply about it, it’s true – Dogecoin you could probably prove easier is not a security than ETH. Why wouldn’t they launch Litecoin, Dogecoin?”

Adding to the momentum, Alan Austin, Managing Director at the Litecoin Foundation, expressed enthusiasm about the prospects of a spot Litecoin ETF, stating, “I’ll say it again, love or hate ETFs, the first company to launch a Litecoin ETF is going to crush it!”

LTC Price Is Lagging Behind

Despite the current buzz, Litecoin’s price analysis indicates that it is still down by 77% from it’s all-time high in May 2021, signaling a bearish trend in comparison to other cryptocurrencies that have already surpassed their 2021 peaks. Nevertheless, a recent break above the 200-week EMA has ignited a glimmer of bullish momentum.

Overcoming the red resistance zone between $102 and $106 could be critical for Litecoin to reach new heights, with the $128 mark (0.236 Fibonacci retracement level) as a potential near-term target.

Litecoin price

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Litecoin Whale Deposits Big To Binance, LTC’s 3% Drop To Extend?

On-chain data shows a Litecoin whale has made a large deposit to cryptocurrency exchange Binance, which could add to the coin’s decline.

Litecoin Whale Has Transferred 100,000 LTC To Binance Today

According to data from the cryptocurrency transaction tracker service Whale Alert, a large transfer has been spotted on the Litecoin network during the past day.

This transaction involved the movement of 100,000 LTC across the blockchain, worth more than 7 million US Dollars at the time of the move. Since the transfer scale is so large, a whale entity was likely behind it.

Generally, the transfers of whales can be something worth watching out for, as they may end up causing ripples in the market. How a move from such a humongous holder would affect the asset, though, depends on the intent behind it.

Here are some additional details regarding the latest Litecoin whale transfer that may provide a hint about why the investor made the move:

Litecoin Whale

As displayed above, the whale transferred 100,000 LTC to wallets associated with the cryptocurrency exchange Binance in this move. The sending addresses were all unknown wallets that were unattached to any centralized platforms.

Such wallets are usually the investors’ addresses. Transactions like this, where coins move from self-custodial wallets towards exchanges, are called “exchange inflows.”

The latest exchange inflow from the Whale suggests that the investor wanted to use one of the platform’s services, which can include selling. As such, the transfer can be bad news for Litecoin.

LTC Has Gone Down 3% In Past 24 Hours Despite Market Surge

While most cryptocurrency sectors have enjoyed profits during the last day, Litecoin has been the odd one as it has registered negative returns.

As the chart below displays, LTC plunged from above the $73 level to the $68 mark during its latest drop.

Litecoin Price Chart

Litecoin has registered a bit of a rebound since its low, though, as it has returned above $70. Despite this increase, however, the coin has still been down around 3% in the past 24 hours.

Given the timing of the Binance inflow transaction made by the whale, it’s possible the move was for selling after all, as it coincided with this rebound in the cryptocurrency.

The whale may be using this small surge to exit from the asset, potentially for moving into the greener pastures the rest of the market seems to be providing.

Regarding the market cap, Litecoin has fallen to just the 20th spot on the top cryptocurrencies list, meaning there are nineteen larger digital assets than it currently. There is still some gap between LTC and 21st-placed Uniswap (UNI), so the coin may not be at risk of slipping further, at least for now.

Litecoin Market Cap

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Litecoin About To Explode And Outperform Bitcoin? Analyst Is Super Bullish

Litecoin, a cryptocurrency often referred to as the “silver to Bitcoin’s gold,” is gaining traction among analysts who predict its potential to outperform Bitcoin shortly. 

Tony “the Bull,” a certified chartist and the Head of Research at NewsBTC, took to X on January 12, laying out a bullish outlook for the 18th most valuable cryptocurrency. Citing its monthly candlestick formations, the analyst said what’s panning out are signs of an imminent breakout that could propel the coin higher in the coming weeks.

Litecoin About To Rip Higher?

Specifically, Tony “The Bull” said what’s printing out in the monthly chart is “insanely bullish” for Litecoin. This outlook is warming for Litecoin Bulls, considering its drab performance in 2023 when prices consolidated before tanking in the second half. 

LTC bullish in monthly chart | Source: Tony "The Bull" via X

The researcher also shared another chart, predicting that the crypto community is “close to witnessing something impressive.” The analyst’s enthusiasm echoes earlier assessment of Litecoin’s “SuperTrend” indicator, which seems to suggest significant price gains for Litecoin in the coming sessions.

LTC supertrend | Source: Tony "The Bull" via X

Litecoin remains within a bearish formation, consolidating, as evident in the monthly chart. Of note, prices are still trending inside the bear bar of August 2023. Despite general optimism, Litecoin bulls have yet to reverse those losses and remain within a tight, flat-lining range, as evident in the monthly chart. 

Still, Litecoin might set a fresh trend depending on the breakout direction. Any upswing above $115 might ignite demand that may lift the coin towards May 2021 highs of around $400.

Spot Bitcoin ETF Didn’t Push BTC Above $50,000

Tony “The Bull”‘s bullish sentiment on Litecoin comes as Bitcoin, the world’s largest cryptocurrency, is trending lower, looking at the performance in the daily chart. Despite the US Securities and Exchange Commission (SEC) approving 11 spot Bitcoin ETFs, Bitcoin prices have failed to break above the $50,000 resistance level. 

For now, the crypto community remains bullish. Bitcoin supporters earlier claimed the approval of spot Bitcoin ETFs would trigger billions into the coin and broadly the sphere. The derivative product provides a legal channel for institutions to invest in Bitcoin. Still, the SEC chair Gary Gensler maintained that Bitcoin is a speculative asset despite the agency’s approval.

LTCBTC chart trending upward on the daily chart | Source: LTCBTC on Binance, TradingView

In contrast to Bitcoin’s lackluster performance, Litecoin has shown resilience, maintaining a firm stance amidst market volatility. This development suggests that Litecoin may be poised to outperform Bitcoin in the coming months. The LTCBTC chart shows Litecoin is up 21% versus Bitcoin, rallying from January lows. 

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Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains

An analyst has explained that a bear flag is potentially forming for Litecoin, which, if confirmed, might cause a decline for LTC to this level.

Litecoin Could Be In Danger Of Deep Decline Due To This Bear Flag

In a post on X, analyst Ali has pointed out a possible bear flag taking form for Litecoin. A “bear flag” is a pattern in technical analysis that, as its name implies, looks like a flag on a pole.

The pattern takes shape when the asset observes a sharp downward move and follows it up with a period of consolidation. This consolidation happens toward a slight overall uptrend, meaning that its upper level is created by connecting higher highs, while the lower line joins together higher lows.

The downtrend prior to the consolidation makes up for the pole, while the channel looks like a flag. Inside the flag, the price is naturally likely to feel resistance at the upper level, while support is at the lower one.

The bear flag is popularly considered a continuation pattern, meaning that the downtrend would continue after the pattern forms. This continuation happens as the price finally ends its consolidation and crashes through the lower level of the flag.

Like the bear flag, there is also the “bull flag,” which forms in the opposite circumstances. In the case of this pattern, the price breaks out with a sharp upward move after the consolidation period toward the downside finishes.

Now, here is the chart shared by the analyst that sheds light on a possible bear flag forming in the 3-day price of Litecoin:

Litecoin Bear Flag

From the graph, it’s visible that Litecoin’s 3-day price has possibly been consolidating inside a bear flag during the last few months. With the latest crash in the asset, though, the price appears to finally be breaking out of the pattern towards the down direction.

This plunge in the coin has occurred as the rest of the cryptocurrency sector has also reverberated with a crash. Unlike many other assets, however, LTC never enjoyed any sharp rally to kickstart the year, so the plummet has been especially damaging for it.

“Post-recent dip, the outlook for Litecoin appears challenging,” notes Ali. “If the selling pressure continues, LTC might see a push down to $38, potentially confirming a bear flag formation.”

Generally, breakouts from any flag pattern are of about the same length as the preceding pole, which is why the analyst has selected this target. If Litecoin’s potential drawdown does play out in this fashion, then the asset would have seen a decrease of more than 41% from the current price levels.

LTC Price

Litecoin had been floating above the $73 mark just earlier, but following this 11% crash, the coin is now down to just $65.

Litecoin Price Chart

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3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving

With the Bitcoin halving expected to happen today, crypto enthusiasts are already starting to take positions in various altcoins. Among these, there are a number of coins that have shown a lot of promise when it comes to reaching the $100 price mark and this report takes a look at three.

MoonRiver (MOVR) Tops Lists Of Altcoins To Reach $100

The MoonRiver (MOVR) token has been one that has flown under the radar for quite a while now. This has to do with the fact that the price of the altcoin fell from its all-time high of $485 to as low as $5 earlier in 2023. However, this has not eradicated the bullish narrative for the asset.

So far, as the crypto market has recovered, the MOVR token has seen one of the most significant rallies. In the days leading up to Christmas, the price would go from around $6 to as high as $44 in a couple of days, notching 700% gains during this time.

Since then, the price has since retraced and fallen around 50%. But with the price still holding above $20, it shows a lot of promise for the coin. Given its low supply of around 11 million coins and a tendency to rise quickly in a short time, MoonRiver is one of the coins poised to break the $100 mark.

MoonRiver (MOVR) price chart from Tradingview.com (Altcoins $100)

Litecoin (LTC) Slow Movement Coming To An End

The Litecoin price rallied tremendously in 2023 leading up to its halving and was among some of the best-performing altcoins. However, once the halving was completed, the LTC price would crumble and fall into a slow and steady decline. However, this has changed as the coin’s price has begun to pick up steam once again.

With the Bitcoin reversal, the Litecoin price is on the up once again, briefly crossing $75 in the early house of Tuesday. The altcoin, which is often referred to as the digital silver, could be poised to see firmer rallies, especially as the Bitcoin halving draws closer, which is often a catalyst for the bull market. If this continues, then LTC could easily cross $100.

Avalanche (AVAX) Sees An Awakening

Just like Solana (SOL), the Avalanche network has undergone an awakening that has brought investors back to the chain. As a result, the AVAX price has rallied, going from its 2023 low of around $9 to as high as $47 in December 2023.

As the new year rolled around, the Avalanche network has continued to enjoy attention from crypto investors and this has helped it maintain its bullish momentum. Just like MoonRiver (MOVR) and Litceoin (LTC), Avalanche (AVAX) is another token expected to cross the $100 mark.

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Trading Guru John Bollinger Warns Of Buying Litecoin, Here’s Why

In his latest analysis, legendary trader John Bollinger has expressed concerns over Litecoin’s performance, particularly in comparison to Bitcoin. Bollinger, known for developing the popular technical analysis tool Bollinger Bands, highlighted a worrying pattern in the Litecoin market.

He remarked, “I was asked for an analysis of LTCBTC. The thing that concerns me the most is its underperformance vs Bitcoin. From a price perspective the controlling LTCUSD feature is the 2 bar reversal at the lower Bollinger Band which is typically considered a bearish signal by traders.”

Litecoin price analysis by John Bollinger

Bollinger’s Bearish Litecoin Prediction Explained

The chart of the LTC/USD pair provided by Bollinger on November 28, 2023, shows Litecoin’s price action in relation to its Bollinger Bands on both a daily and weekly scale. The price is currently hovering around $69.566, which is significantly lower than the upper Bollinger Band, suggesting a lack of bullish momentum.

The Bands form by plotting a range of standard deviations above and below a simple moving average, commonly enveloping the price action. In this chart, the daily vs. weekly candles chart shows that the LTC/USD price is struggling beneath the midpoint of these bands, which is a bearish indication. The price currently near $69.566 is substantially below the upper band level of around $90, which represents a potential resistance level.

The Bollinger Bands (BB) on the chart are set with a 20-period moving average with a 2 standard deviation range. Bollinger’s analysis points to a ‘2 bar reversal’ pattern at the lower band. This pattern emerges when a bar reaches a high above the preceding bar but then closes below the close of that same previous bar, hinting at a possible reversal from the uptrend. Such a pattern took place near the lower band, indicating that any effort to drive the price higher meets with resistance, and the prevailing selling pressure is taking hold.

The Bollinger %B indicator is also crucial here as it compares the price of Litecoin to the range defined by the Bollinger Bands. A %B value below 0.5 indicates that Litecoin’s price sits nearer to the lower band than to the upper band, potentially signaling weakness. The chart shows the indicator failing to cross the 0.5 level after a plunge toward 0, signifying that the price frequently touches or falls below the lower band.

LTC Price Under Pressure

The Bollinger Band Width (BBW) serves as another indicator, measuring volatility by assessing the Bollinger Bands’ width. A narrowing of the Bands, as seen in the latter part of the chart, suggests a decrease in volatility and often precedes a significant price movement. In this context, the BBW’s narrowing on the Litecoin chart might indicate that the market is tensing, possibly gearing up for an impending breakout or breakdown.

When Bollinger mentions Litecoin’s underperformance relative to Bitcoin, it’s important to note that Bitcoin often leads the crypto market trend. If Litecoin is not keeping up with Bitcoin’s movements, it could suggest a lack of confidence or interest from traders in altcoins (as the current rise in Bitcoin dominance shows) and Litecoin specifically.

In summary, Bollinger’s technical analysis indicates that Litecoin is in a precarious position. The price action at the lower Bollinger Band, the bearish ‘2 bar reversal’ pattern, the sub-0.5 Bollinger %B values, and the narrowing BBW all suggest that Litecoin may continue to see downward pressure in the near term.

At press time, Litecoin traded at $70.05. The 1-day chart of LTC/USD shows that the altcoin fell below the key support of the 0.236 Fibonacci retracement level at $69.98 two days ago. A retest is currently taking place, a daily close above this is of utmost importance for the Litecoin price.

Litecoin price

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Litecoin Sustains 4-Month Run With 37% Gain, Beating Most Of Its Peers – Details

With its latest break above the $74 barrier, Litecoin (LTC) is showing encouraging signs of a breakout into the bull market.

Increased transaction activity from miners and major investors in cryptocurrency is fueling expectations of an upward trend and suggests that a huge price spike is imminent.

At the time of writing, the price range for LTC is $61.50 to $74.50, up 3.5% in the last 24 hours, figures by crypto market price aggregator CoinGecko show. The crypto has so far been able to hold its ground and sustain a 37% increase in the last four months, data shows.

The 100-Day Moving Average, on the other hand, is currently at $67.40, while the 10-Day Moving Average is at $73.25. These indicators suggest that Litecoin is gaining pace, with resistance levels found at $80.11 and $93.05.

Litecoin hasn’t changed much in response to recent events in the crypto sector, even though it stands to gain directly. Companies like Blackrock, Invesco, Franklin Templeton, Ark Invest and Fidelity recently applied for a spot Bitcoin ETF.

Blackrock recently submitted a separate document for an Ethereum ETF. This indicates the prevailing confidence of the largest asset management firm globally in the potential approval of its Bitcoin ETF.

Litecoin has emerged as one of the most active blockchains in the industry, with a solid achievement of surpassing 1 million transactions on November 14th, marking the first time the proof-of-work (PoW) network has reached this milestone.

This surpasses the previous all-time high of 660,153 transactions recorded just a day earlier. Remarkably, Litecoin’s transaction activity over this two-day period has exceeded that of Bitcoin, highlighting a significant surge in LTC’s blockchain engagement.

According to latest data, Litecoin has a strong daily trading volume that surpassed $612 million in the previous day. Like Bitcoin, Litecoin has shown to be resistant to manipulation.

Moreover, Litecoin continues to hold its position as a cryptocurrency with significant processing power for handling heavy transactions with a relatively consistent hash rate in recent months.

In the meantime, there are two very encouraging signs: the miners’ accumulation of LTC, which has reached reserves of over 2.5 million, and the spike in whale transactions, which peaked eight weeks ago.

But before the bulls can confidently shoot for $80 and higher, they must be able to breach the initial barrier at $78. A correction may begin if the price falls below $65; however, early support may come from the 406,590 holders who purchased 4.8 million LTC at approximately $67.

Meanwhile, the performance of the derivatives market presented a varied scenario. The Open Interest (OI) for Litecoin Futures on Binance exhibited a lateral movement, suggesting a decreased inclination among traders to speculate on the future price movements of the cryptocurrency.

Conversely, the Funding Rate on the exchange portrayed a positive trend, signifying the prevalence of long-position traders in the market. This divergence in market indicators reflects a nuanced sentiment among participants, with some exhibiting caution and a wait-and-see approach, while others express confidence in the upward trajectory of Litecoin.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Creative Commons

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Litecoin Whales Are Back In The Game, Can Price Reach $100?

Litecoin (LTC) whales are making their way back into the market once more as the bull market establishes itself. A number of large transactions have been flagged which suggests that these millionaire accounts are coming out to play.

Litecoin On-Chain And Whale Activity Hit 4-Month High

The Litecoin on-chain and whale activity has been on the rise recently, as reported by the on-chain analytics platform Santiment. In the report posted to X (formerly Twitter), Santiment revealed that there had been a big spike in the Litecoin on-chain activity.

The chart shared by the tracker showed the spike taking place in line with the price recovery, which would be the reason why investors are awakening once more. Santiment noted that this recovery in on-chain activity saw address activity on the blockchain, as well as whale activity reaching levels not seen since June, representing a 4-month high in this metric.

Litecoin whales

A total of 319,000 daily addresses were active on the network after this metric dropped drastically in the last few months Additionally, weekly whale transactions, that is transactions carrying more than $100,000 rose and touched a new 4-month high of 7,418.

These are not the only metrics that saw a spike as the dormant LTC address started seeing movement again. These addresses which had previously not seen movement for a while began to move coins around, adding to the current number of coins in circulation.

LTC Ready For A Shoot To $100?

The revival of on-chain activity for Litecoin is a welcome development for the network but it is not exactly bullish. The reason for this is how the LTC price has reacted since this activity commenced, which is not very encouraging.

As the dormant LTC started to move once more, the price began to decline. This suggests that this subset of holders may be selling their coins after holding and waiting for better prices. In this case, the selling pressure has outweighed the demand for the coin.

A continuation of this will likely see the price continue to fall further, and a recovery to $100 is still far off on the horizon. So this recent bout of activity may just be investors choosing to sell rather than coming back to participate in buying.

The LTC price already fell from its $69 level on Thursday to as low as $67 on Friday before mounting a small recovery. Presently, the Litecoin price is sitting at $67.8, representing a 2.14% decrease in the last day.

Litecoin price chart from Tradingview.com

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Litecoin At 12: How Has Its 84 Million Supply Been Distributed Over Time?

Much has changed since Litecoin launched in 2011 with a maximum supply of 84 million LTC as a silver to Bitcoin’s gold. The crypto recently completed its third halving in August, finally reducing the number of LTC miners receive as a reward for mining a block from 12.5 LTC to 6.25 LTC. 

Over the past 12 years, much of this supply has been distributed to miners as block rewards for verifying Litecoin transactions. At the time of writing, there are 73.76 million LTC in circulation, with data showing this supply concentrated among large holders. 

Estimates from the crypto analysis platform IntoTheBlock show that over 49% of LTC is held by accounts with more than 0.1% of the circulating supply. BitInfoCharts also puts addresses with more than 100,000 LTC having 38.01% of the total supply.

Litecoin addresses

Source: IntoTheBlock

Who Are the Biggest Litecoin Wallet Holders Today?

Litecoin’s 84 million total supply has been distributed over the past 12 years through mining rewards and market trading. The biggest wallet addresses include large miners that have accumulated Litecoin from years of mining and crypto exchanges. Charlie Lee, its creator, claims to have sold or donated all LTC tokens in his collection.

The honor of the biggest Litecoin wallet address belongs to “M8T1B”, accounting for 3.34% of the entire supply in circulation. This wallet holds 2,504,667 LTC worth $158,105,141 at the current market price. 

Next is “ltc1qr” holding 2,225,000 LTC worth $140,451,374. Wallet addresses “MQd1f” and “ltc1qn” comes third and fourth in rankings, holding 1,344,464 LTC and 1,097,050 LTC worth $84,868,217 and $69,250,423 respectively. According to data from BitInfoCharts, these top four addresses hold 8.18% of the total coins in circulation.Litecoin 2

Other top-ranking whales include addresses “ltc1q2” and “MQSs1,” with 927,542 LTC ($58,550,373) and 745,000 LTC ($47,027,540), respectively. Looking through the data shows these six addresses are the Litecoin blockchain whales holding more than 1% of the circulating supply. Metrics from IntoTheBlock put the total concentration of these whales at 11.88% (8.84 million LTC).

Wallets “MB8nnF”, “MFULdM,” “MESruS,” and “LZEjck” complete the top 10 rankings with 513,259 LTC, 472,674 LTC, 416,688 LTC, and 394,044 LTC, respectively. 

What Does Litecoin’s Supply Distribution Mean for the Future?

There seems to be a dull market movement with the whales as sellers continue to maintain control over the market. As a result, the inflow to wallets holding at least 0.1% of the circulating supply has decreased by 91.07% in the past three months.

Litecoin whales

Source: IntoTheBlock

With 87% of LTC already mined, the rate of new supply will slow down over time. This could support price stability and sustainability. Litecoin is currently trading at $63.07, and like all cryptocurrencies, and pseudonymous crypto analyst P_S_trade predicts Litecoin can push up to $84 very soon. 

According to historical data compiled by crypto analyst Tony “The Bull”, Litecoin has always retraced 70% in the weeks following its past halvings. However, the recently concluded halving event may present a different narrative.

Litecoin is currently trading in a range since last week and is seeking to extend its gains of 2.35% over the past 24 hours. 

Litecoin price chart from Tradingview.com

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Crypto Analyst Puts Litecoin Price At $84, Here’s The Timeline

Since its third halving event was successfully completed in early August, the Litecoin price has fallen off the radar of crypto investors. This was mainly due to the price decline that LTC experienced after heavy profit-taking from investors who had invested leading up to the price surge triggered by the expectations around the halving. But it seems the tides are finally turning for the coin as one analyst predicts a more than 30% increase in price going forward.

Litecoin Price Shooting For The Stars

The current crypto market headwinds seem to be working in favor of the Litecoin price which one crypto analyst believes is gearing up for a run-up to $83. In the post, the pseudonymous analyst identified as P_S_trade points to the possibility of the crypto market continuing its growth trend. However, this would be null and void if the crypto market were to reverse back below $27,000.

For Litecoin, the analyst points out that the altcoin has usually been the first to start to see an upside in the crypto market. But this has not been the case, as previously mentioned since high levels of profit-taking have affected the LTC price.

Litecoin price chart from Tradingview.com

Even from the current level, the analyst’s chart points toward a possible retracement from here back down to $55. However, once this is completed, the bounce-off from there shows LTC reaching as high as $77 before succumbing to another correction.

This decline is also similar to the first instance where it falls to $55 in the fact that it signals another price surge. Following this second correction, the analyst puts the bottom somewhere around $67 before Litecoin continues its ascent once more.

The top of this second rally then lands just above $84 on the chart. Although there is no official timeline, the range of trades mentioned by the analyst is the medium term, which could see this run out for a couple of months.

Litecoin price chart from Tradingview.com (LTC prediction crypto analyst)

LTC Daily Transactions Continue To Decline

While the analyst foresees Litecoin price to surge, other metrics could be pointing in the opposite direction. For one, the daily transaction numbers for the altcoin have been steadily on the decline since the halving event in August.

According to data from BitInfoCharts, the number of daily LTC transactions has fallen from over 584,000 in May to just shy of 104,000 transactions by Tuesday, October 10. This points to a lack of interest from investors usually brought on by bear market headwinds.

Additionally, the daily transaction volumes, as shown by the token tracking website CoinMarketCap, show a 13.26% decline in the daily trading volume of Litecoin. These bearish metrics could thwart chances of reversal. However, they could also signal the bottom that triggers the start of another rally.

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Litecoin Price Prediction: LTC Could Retest $60 Before Fresh Surge

Litecoin price is struggling to gain pace above $66.40 against the US Dollar. LTC could revisit the $60 support before the bulls take a strong stand.

  • Litecoin is correcting losses from the $63 support zone against the US Dollar.
  • The price is now trading below $66 and the 100 simple moving average (4 hours).
  • There is a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC/USD pair (data feed from Kraken).
  • The price could drop toward the $60 support before it starts a fresh increase.

Litecoin Price Signals Bearish Move

This past week, there was a fresh decline in Bitcoin, Ethereum, Litecoin, and other altcoins against the US Dollar. LTC price formed a top near $68.40 before it started a fresh decline.

The price traded below the $66.40 and $65.00 support levels. It retested the $63.00 support zone. A low was formed near $63.01 and the price is now attempting a fresh increase. There was a move above the $65.20 resistance.

The price spiked above the 50% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. Litecoin is now trading below $66 and the 100 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC/USD pair.

On the upside, immediate resistance is near the $65.50 zone. The next major resistance is near the $6.40 level. It is close to the 61.8% Fib retracement level of the downward move from the $68.38 swing high to the $63.01 low. If there is a clear break above the $66.40 resistance, the price could start another strong increase.

Litecoin Price Prediction

Source: LTCUSD on TradingView.com

In the stated case, the price is likely to continue higher toward the $68.40 and $70 levels. Any more gains might send LTC’s price toward the $75 resistance zone.

Downside Thrust in LTC?

If Litecoin price fails to clear the $66.40 resistance level, there could be a fresh decline. Initial support on the downside is near the $63.00 level.

The next major support is forming near the $60 level, below which there is a risk of a move toward the $58.00 support. Any further losses may perhaps send the price toward the $55 support.

Technical indicators:

4-hour MACD – The MACD is now losing pace in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for LTC/USD is still below the 50 level.

Major Support Levels – $63.00 followed by $60.00.

Major Resistance Levels – $66.40 and $68.40.

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Litecoin Stuck In A Rut: Will Bullish Momentum Or Bearish Pressure Prevail?

Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market. 

While LTC has a history of volatile price swings, recent times have seen it mirroring the sideways movement of the overall market, largely influenced by Bitcoin’s fluctuations, which rose from $25,000 to $27,000 before dropping to $26,000.

As of the latest data from CoinGecko, Litecoin is currently trading at $64.63, with a 24-hour gain of 0.7%. However, over the past seven days, LTC has experienced a decline of 2.9%, reflecting the prevailing bearish sentiment in the market, according to a recent price report.

Chasing Litecoin Bulls and Avoiding The Bears

For those looking for a bullish revival in Litecoin’s price,  a price report notes that the key level to watch is the 23.6% Fibonacci retracement level, which stands at $69. Breaking above this level could open the door for further gains, with potential targets lying at $78 and $80.

On the other hand, if the flat trading volume persists, bears may exert further pressure, potentially leading to a drop in LTC’s price to the $60 mark.

Market speculators have not been particularly enthusiastic about Litecoin’s recent sideways movement. The Open Interest (OI) for LTC has continued to decline, with data from Coinalyze indicating a $9 million drop within the past 48 hours. This suggests that traders and investors are becoming increasingly cautious as they monitor the developments in the Litecoin market.

Litecoin’s Investment Appeal in Q3/Q4

Despite the recent lackluster performance, some analysts believe that Litecoin remains an attractive investment opportunity in the third and fourth quarters of this year. Litecoin’s established reputation, solid ecosystem, and upcoming halving events are factors that contribute to its appeal.

Halving events have historically had a positive impact on Litecoin’s price, reducing the rate at which new LTC coins are mined and potentially increasing scarcity.

Market participants are closely watching the 23.6% Fibonacci retracement level at $69 for signs of a bullish revival, while a continuation of flat trading volume could see LTC drop to $60.

Despite recent market concerns, Litecoin’s strong fundamentals and upcoming halving events make it an investment opportunity worth considering as we move into the later part of the year.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Invest Right

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Litecoin Eliminates Pre-Halving Gains As Volume Drops, Is A Fall To $50 Coming?

In the months leading up to the Litecoin halving in August, the price of the blockchain’s native LTC token was continuously on the rise. This renewed interest in investors who rushed back into the token and eventually pushed its price above $100. That is until the actual halving event rolled around, turning it into a “buy the rumor, sell the news” scenario. Since then, it has been a downward spiral for the token and the pain may not be over.

Litecoin Volume Slumps Post-Halving

Litecoin volume since the halving was completed has been less than expected. While investors expected rising demand for the LTC token with the diminished supply rate, the opposite has been the case. Instead, the daily trading volume of the cryptocurrency continued to slump.

In the last day, the Litceoin daily trading volume fell another 23%. This brought its daily volume to $255 million, a significantly low figure compared to the $500 million daily volumes that the cryptocurrency was recording leading up to the halving.

Litecoin volume

Just like the trading volume, the price of LTC has also plunged significantly. From its pre-halving peak of $112, the altcoin has fallen over 50% to its current level just above $60. This means that the asset has lost all of its gains accumulated between June and July 2023, just one month after the halving was completed.

So rather than being a bullish event as initially expected, the halving has proven to be more bearish than most. It also did not help that it took place during the bear market and LTC has fallen rapidly alongside larger assets such as Bitcoin and Ethereum.

Litecoin price chart from Tradingview.com (Volume)

Will LTC Fall Continue To $50?

At the current rate, the forecast does not look too good for the LTC price. Litecoin has understandably seen a 3% increase in the past day as Bitcoin recovered above $26,000. But this does not look sustainable by its current metric.

The first indicator of this is that falling daily trading volume means that interest in the asset is waning. As investors move to other assets they believe provide better prospects, this will affect the LTC price and could trigger further downside from here. Add to this that the coin’s price is below its 50-day and 100-day moving averages and it spells a recipe for disaster.

If LTC bulls are unable to hold support above $60 and it falls once again as it did on September 11, then $50 becomes a very possible landing point. Such a decline would put it back at November 2022 levels and signal a prolonged bear trend for the digital asset.

At the time of writing, LTC price is still sitting above $62 but the tug-of-war for control between bulls and bears continues to rage on.

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Litecoin Breaks Another Record: HODLers On Network Now Exceed 5 Million

On-chain data shows Litecoin has reached another milestone as the total number of HODLers on the network now exceeds five million.

Litecoin Long-Term Holders Have Continued To Rise In Number Recently

According to data from the market intelligence platform IntoTheBlock, LTC has seen its long-term holder count hit a new record this week. The firm defines “long-term holders” (LTHs) or HODLers as investors holding onto their coins since at least one year ago. Note that this cutoff for the LTHs differs from what some other analytics platforms use, usually around five to six months.

The chart below shows how the number of addresses owned by these LTH HODLers has changed over the past few years.

Litecoin HODLers

As displayed in the above graph, the Litecoin HODLer count has significantly increased during this period. Since the start of last year, in particular, the indicator has seen exponential growth.

Following this sharp rise, the number of addresses carrying coins since at least one year ago has now broken the five million mark, a new record for the cryptocurrency.

Interestingly, while the LTHs have grown in number during this period, the cryptocurrency price has mostly struggled. This shows that despite the poor price action, there has been growing confidence among a subset of holders who believe that the asset would be a profitable investment in the long term.

This is naturally a positive development for the cryptocurrency, as more LTHs mean more supply that’s locked inside the wallets of these resolute hands, which in turn implies a lesser possibility of selling occurring in the market.

LTC Price Has Continued To Struggle Recently

Since Litecoin finished its plunge in mid-August, its price has only moved sideways. When writing, the cryptocurrency is trading at around $63.

Litecoin Price Chart

While the Litecoin HODLers only going up in number through this slide since July is a constructive sign for the asset, it may not mean much in the short term.

Where the LTC price could go next from here depends on several factors, one of which could be on-chain resistance and support levels. IntoTheBlock has shared the concentration of the investors at the different LTC cost basis price ranges.

Litecoin Profit/Loss

The “cost basis” here refers to the price at which the investors bought their coins. In the above data, the dot for the $64.9 to $69.29 range, for instance, represents the percentage of Litecoin investors who bought at prices lying inside this range.

Generally, when the price surges to cost basis levels with a high amount of investor concentration, there is a chance that the asset could feel some resistance. This is because these investors, previously in losses, come into the green with the surge, which may entice them to sell and exit the market.

The range ahead of the current one looks to be not that concentrated with holders, which may mean that Litecoin wouldn’t find too much resistance if a surge toward the $69 mark has to happen. However, there are notable percentages of holders in the following few price ranges, making a further surge difficult.