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Litecoin Whales On The Move — Can They Drive LTC Price Back To $75?

The latest on-chain data shows that Litecoin (LTC) whales have been increasingly active in the market in recent weeks. The question is — can they push the altcoin’s price comeback?

Litecoin Whale Activity Ignites

In a new post on the X platform, on-chain analytics firm Santiment revealed a sustained increase in whale activity on Litecoin. The relevant indicator here is the whale transaction count metric, which tracks the number of whale transactions (worth more than $100,000) executed on a blockchain network per day.

Whales refer to entities that hold a large amount of a particular cryptocurrency and have significant influence over the market due to the size of their holdings. Whale behavior and activity are often scrutinized and analyzed, as they can provide insight into market dynamics and potential price movements.

Litecoin

According to Santiment, the number of Litecoin transactions worth more than $100,000 has been on the rise since late August. Typically, an increase in this metric suggests that whale activity is increasing on the Litecoin network, which could be a bullish catalyst for the LTC price.

It is worth noting, though, that the increase in the whale transaction count could mean either accumulation or distribution. If LTC whales are loading their bags, it could indicate an impending price growth. On the flip side, a sell-off by the large holders could put Litecoin’s price at risk.

Moreover, the altcoin seems to be on the lips of most members of the crypto community, as its social dominance has also been climbing. The social dominance metric reflects the share of discussion in crypto media that pertains to a particular coin/token or phrase.

This metric relies on social volume, which measures the total number of social posts that contain a particular crypto subject. The social dominance for an asset compares its social volume to the combined social volume of the 100 largest assets by market capitalization.

The recent uptick in whale activity and social discussions could signal an imminent price breakout for Litecoin. “Whether or not you are a fan of LTC, this is worth keeping an eye on,” Santiment said in its post.

LTC Price At A Glance

As of this writing, the price of Litecoin stands around $62, reflecting a 1.5% decline in the past 24 hours. According to data from CoinGecko, the altcoin is down by nearly 5% in the past week.

Litecoin

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Litecoin Looks Poised To Explode As Grayscale Buys 10,000 LTC

Litecoin (LTC) is set to enjoy a significant price increase due to massive buying pressure from institutional investors like Grayscale. A recent analysis by crypto analyst 28 Crypto also showed that Litecoin is poised to enjoy significant price gains. 

Grayscale Adds 10,000 LTC To Its Portfolio

In an X (formerly Twitter) post, crypto commentator Bamboo shared data from the crypto data analysis platform Coinglass, showing that Grayscale had recently added 10,000 LTC to their portfolio. Further data from Coinglass showed that the asset manager now holds 1.86 million LTC ($122 million). 

LTC 1

In line with this development, Bamboo urged the crypto community to start paying attention to Litecoin “before max pain kicks in and [the] price shoots up” and prices them all out. The crypto analyst added that Litecoin would likely usher in a rally for the crypto market as it has done in the past.  

It is worth mentioning that Grayscale’s Litecoin holdings are the underlying assets for its Grayscale Litecoin Trust (LTCN), which offers institutional investors exposure to the crypto asset. As such, the increase in Grasycale’s Litecoin holdings indicates there is an increased demand for the crypto among institutional investors. 

This is undoubtedly bullish for Litecoin, considering the impact the increased demand for the crypto among institutional investors can have on its price. Moreover, the existence of closed-end funds like LTCN, which offers institutional investors, could eventually pave the way for the launch of a Spot Litecoin ETF, ultimately causing more liquidity to flow into the Litecoin ecosystem. 

Meanwhile, data from the market intelligence platform IntoTheBlock shows that other Litecoin whales besides Grayscale are accumulating the crypto. There has been a notable surge in the number of LTC coins held by these whales. Furthermore, investors who hold between 0.1% and 1% of Litecoin’s circulating supply have also increased their holdings in the last thirty days. 

Litecoin Price Is Set To Witness A Breakout

Crypto analyst, 28 Crypto, revealed in an X post that Litecoin is breaking out against Bitcoin on the daily time frame. The crypto analyst noted how bullish this is for Litecoin, considering that it has experienced a “very long” downtrend against Bitcoin. 

Litecoin 2

In response to a follower, the crypto analyst also mentioned that a breakout on the weekly time frame is also coming and asserted that Litecoin will rise higher than they can imagine. Interestingly, 28 Crypto has earlier stated that Litecoin will outperform all major cap coins including Bitcoin and Ethereum. 

LTC 3

Crypto analyst Joao Devesa provided insights into how high Litecoin will rise if it achieves a successful breakout, stating that it will rise to $100. The last time Litecoin reached that price level was in April earlier this year when it hit $103. 

Litecoin 4

At the time of writing, Litecoin is trading at around $67, up over 1% in the last 24 hours, according to data from CoinMarketCap. 

Litecoin LTC price chart from Tradingview.com

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Analyst Says Litecoin Will Outperform Bitcoin And Large Cap Cryptos With 11,000% Breakout

Despite being termed the ‘digital silver’, the Litecoin price has remained muted in the last year. The altcoin’s price saw a run-up back in 2023, leading up to its halving. Since then, it has failed to maintain this upward momentum, falling short of the triple-digit level. From here, though, it seems the tide might finally be changing for the Litecoin price, as a notable prediction from an analyst suggests that a rally could send the price to a new all-time high.

Litecoin Price To Reach $7,000

According to a crypto analyst on the X (Formerly Twitter) platform, the Litecoin price is set to outperform all of the large cap cryptocurrencies in the market. The analysis focused on Litecoin’s long-term growth, which could see it surpass the likes of Bitcoin and Ethereum.

The chart shows that the LTC price is still trending below $70, which is an 84% decline from its all-time high price of $412. However, all hope is not lost as the crypto analyst believes that there is still more to come for the altcoin. Not only does the analyst believe that the Litecoin price will eventually cross the triple-digit level once again, they also believe that four-digit is in the cards for the altcoin.

Targets for the Litecoin price include an initial surge that takes it above $100. From there, the crypto analyst expects the recovery to continue. An eventual break above the $1,000 level is mapped out, which would be an around 1,600% price increase from here. However, it doesn’t end there. The crypto analyst expects the price to eventually reach as high as $7,000. Now, if this were to play out, it would mean an over 11,000% price increase from the current price level.

As for the timeframe for when this is expected to play out, the crypto analyst seems to expect it to happen before 2026. This would put it in the expected 2025 bull run, where the likes of Bitcoin are expected to touch new all-time highs. But an 11,000% increase could easily make the Litecoin price the best performer out of the top 20 cryptocurrencies by market cap.

“If you hate it or not, but IMO Litecoin will outperform all the big cap Crypto’s. See you at $7000,” the post read.

On its own, the Litecoin price has not been very impressive. According to data from Coinmarketcap, the price is up only 1.42% in the last year, showing sluggish movement. Momentum has also declined rapidly, with total open interest remaining below $300 million for more than two months straight.

Litecoin LTC price chart from Tradingview.com

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Litecoin Sees Sudden Exodus Of Retail Investors: Why This Can Be Bullish

On-chain data shows Litecoin has recently seen a sudden exit of small hands, which can favor LTC’s price.

Small Litecoin Investors Have Been Displaying FUD Recently

In a new post on X, the on-chain analytics firm Santiment discussed the latest shift in Litecoin’s userbase. A couple of relevant indicators are relevant here: Total Amount of Holders and Supply Distribution.

The first of these, the Total Amount of Holders, measures, as its name suggests, the total number of addresses on the LTC network carrying some non-zero balance.

When this metric’s value goes up, new addresses with balance are popping up on the blockchain. This indicates that adoption is taking place, which can naturally be bullish for the asset.

On the other hand, the indicator’s value decreasing suggests some investors have decided to clear out their wallets, perhaps in an attempt to exit from the cryptocurrency completely.

Now, here is a chart that shows the trend in the Litecoin Total Amount of Holders over the last few months:

Litecoin Total Amount of Holders

As displayed in the above graph, the Litecoin Total Amount of Holders has registered a sharp drop recently, a potential sign that many investors have decided to leave the asset.

While the decrease shows a departure from the network, the Total Amount of Holders contains no information about which type of investors are selling here.

This is where the second indicator comes in: the Supply Distribution. This metric tells us about the total number of addresses currently belonging to a particular wallet group.

In the chart, Santiment has attached the Supply Distribution data specifically for the investors with their address balance in the 0.1 to 1 LTC range. This is a small amount, so the only holders who qualify for this group would be the smallest of the hands: retail.

From the graph, it’s apparent that the Litecoin addresses falling within this range have recently seen their number go through a rapid decline. More specifically, around 45,200 retail addresses have suddenly cleared themselves out during this plunge.

Given this trend, it would appear that a good chunk of the decrease in the Total Amount of Holders has come from these small investors. While selling itself can be bearish, the fact that the retail holders are capitulating here may not be so bad.

As the analytics firm explains, “Small fish impatiently ‘jumping ship’ is often a turnaround sign for an asset to begin turning bullish once again.” Thus, whether this market FUD would lead to a rebound for Litecoin remains to be seen.

LTC Price

At the time of writing, Litecoin is floating around $62, down more than 4% over the last seven days.

Litecoin Price Chart

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Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market

The cryptocurrency industry has experienced a notable surge in activity among large holders, often referred to as “whales,” over the past few weeks. This level of engagement has been revealed through on-chain transaction data, which has shown multiple instances of large cryptocurrency movements to and from exchanges. 

One cryptocurrency that has particularly stood out in this trend is Litecoin. Particularly, crypto market intelligence platform IntoTheBlock has revealed an uptick in Litecoin large transactions since the last week of July. In the past 24 hours, over $3.5 billion worth of Litecoin has been moved among large holders.

Significant Litecoin Whale Activity

IntoTheBlock’s large “Large Transactions” metric shows an interesting movement among addresses holding large amounts of Litecoin. This metric is designed to track the number and total value of transactions worth $100,000 or more and classifies them as whale movement.

According to this metric, a cumulative $17.5 billion worth of such transactions have been performed in the past seven days. This is very interesting considering that Litecoin has largely remained quiet in terms of the general market sentiment.

According to a social media post by IntoTheBlock, the Litecoin network seems to be gaining trust among users to quietly and effortlessly move value. This movement peaked recently at 53.45 million LTC worth $3.43 billion within a 24-hour timeframe.

Although this increase in whale movement could be selloffs in exchanges as much as accumulation, recent price action points to the latter. At the time of writing, Litecoin is trading at $67.71, up by 2% in the last 24 hours and an 11% rise over the past week, even as the broader cryptocurrency market undergoes a correction.

DOGE Whales Accumulating

The increase in whale activity is not limited to Litecoin alone. Recent data from IntoTheBlock reveals that Dogecoin, the “king of meme coins,” has also seen a significant uptick in large-scale transactions over the past few days. Notably, the number of DODE holders holding more than 10 billion DOGE tokens has increased by 50% within the last 30 days. This, in turn, has contributed to a negative $14.05 million netflow into crypto exchanges in the past seven days. 

A negative net flow indicates that more Dogecoin is being withdrawn from exchanges than deposited, which can often signal that holders are opting to move their assets to private wallets in anticipation of holding them long-term rather than selling. 

Furthermore, on-chain data shows that Dogecoin addresses with a balance have grown to 6.56 million, which is a growth of 20% from eight months ago. At the time of writing, DOGE is trading at $0.1027 and has also posted 1.9% gains in the past 24 hours.

Featured image from SoFi, chart from TradingView

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Litecoin Comeback: Bullish Reversal Sets The Stage For $76.85 Target

Litecoin (LTC) is making a strong comeback as a bullish reversal takes place, setting the stage for a potential move toward the $76.85 target. After bouncing off a critical support level, Litecoin has regained upward momentum, signaling renewed optimism among market traders. Key technical indicators now point to further gains, with $76.85 emerging as the next significant resistance level. 

As the market responds to this bullish shift, this article will delve into Litecoin’s bullish reversal and assess the significance of the $76.85 target and its implications for future price action.

Litecoin has increased by 2%, trading around $65.37 in the last 24 hours. Its market capitalization has exceeded $4.8 billion, with a trading volume surpassing $410 million at the time of writing. Litecoin’s market cap has grown by 2%, while its trading volume has surged 42.12%.

Analyzing Litecoin’s Bullish Reversal To $76.85

Litecoin’s price on the 4-hour chart is bullish, having crossed above the 100-day Simple Moving Average (SMA) as it approaches the $76.85 level. The digital asset has experienced a significant price increase since rebounding from the $50 support level, signaling a strong rise in positive momentum that could drive further gains.

Litecoin

Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently trending around 63%, suggesting that the bulls are still in control and could drive the price higher.

On the 1-day chart, although Litecoin is still trading below the 100-day SMA, it demonstrates upbeat resilience, steadily advancing toward the 100-day SMA and the $76.85 level, with multiple bullish momentum candlesticks forming. This suggests active bullish momentum for the cryptocurrency.

Litecoin

Finally, on the 1-day chart, the RSI indicator indicates a rising positive momentum for the cryptocurrency. The RSI signal line has moved out of the overbought zone and is currently attempting a move above 50%.

Conclusion: Is Litecoin Poised For A Breakout Beyond $76.85?

Recent trading indicates that Litecoin, with its strong bullish momentum, could reach the $76.85 level. If the cryptocurrency reaches and surpasses this resistance, it may trigger further positive moves toward the next resistance at $89.74. If this level is breached, it may lead to further price gain toward the $105.9 resistance level and beyond.

Conversely, if bearish pressure prevails and Litecoin fails to break through the $76.85 resistance, the price could decline toward the $57.41 support. A drop below this level may lead to a further decline to test the $50 support, with additional downward movement possible if this range is breached.

Litecoin

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Litecoin Inches Toward Bollinger Band Buy Signal After 6% Surge

Litecoin is among the crypto market leaders today, surging 6% intraday while Bitcoin remains flat. The single-day rally in LTCUSD might be enough, however, to generate a near-term buy signal using the Bollinger Bands. What might this mean for the altcoin, and could this be a sign that a more positive trend is beginning?

Possible Buy Signal Setup Lights Up In Litecoin

Litecoin has been among the most painful coins to hold over the last several years. In 2017, the silver to Bitcoin as digital gold went on a monumental, nine-month rally. During that nine-month stretch, Litecoin gained over 10,000% and put the coin in the top ten cryptocurrencies by market cap.

A lot has changed since then, with Litecoin now ranked number 18 by market cap, barely holding onto top 20 status. The altcoin has mostly trended sideways for the past seven years since the 2017 bull run, much to the disappointment of investors.

Brighter days might be ahead, at least in the near-term, as LTCUSD is working on a buy signal according to the Bollinger Bands.

 

LTCUSD_2024-07-29_11-07-13

All About The Bollinger Bands And How To Use Them

The Bollinger Bands aren’t just a technical indicator, but act as a complete trading system. The tool is primarily used to gauge volatility, as the bands tighten and narrow when volatility is low. When the bands begin to expand, it is a sign that volatility is returning.

Beyond that, however, the Bollinger Bands can also generate a buy and sell signal depending on where price is relative to the upper and lower bands. Each band is set at a +2 standard deviation from the middle-line, which is a 20-period simple moving average.

The idea is that only the strongest and most likely to be sustainable moves make it outside the upper or lower band. A 6% surge today in LTCUSD was enough to make it above the upper Bollinger Band. A close above the upper band is necessary to confirm the buy signal, especially when supported by higher than normal volume. A volume downtrend has been broken, checking this additional box in setting up the coin for a buy signal.

Tony Severino, CMT is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

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Litecoin (LTC) Set To ‘Wake Up’, According To Legendary Trader’s Forecast

Both experienced traders and experts are drawn to Litecoin (LTC). Declaring it “about time for LTC to wake up,” John Bollinger, the author of the well-known Bollinger Bands, recently hinted to an upcoming change for LTC. As Bollinger examined Litecoin’s monthly chart using his own method, this enigmatic signal laid the ground for a possible price rise.

Focusing on the narrowing of the Bollinger Bands—a main signal of low market volatility— Bollinger’s study implies Litecoin could be about to undergo a notable price movement. His guidance on changing the logarithmic scale for a more exact data interpretation emphasizes the complex character of crypto research.

Given that the lower Bollinger Band is almost zero, the stage is prepared for a possible breakout as historically such circumstances usually precede significant price changes.

Snapshot Of The Current Markets

With a market capitalisation of $5.35 billion and a current trading price of $73.27 Litecoin ranks as the 21st biggest cryptocurrency by market valuation. Litecoin’s past shows a consistent performance, despite its recent slow down. Often referred to as the “silver” to Bitcoin’s “gold,” the cryptocurrency had already peaked on May 10, 2021 at $414.

Litecoin’s price has been much below its high in the current market environment, which offers investors a possible purchase chance. With short-term and long-term estimates showing significant increase, CoinCheckup’s newest study and forecast point to a positive picture.

Technical data and Bollinger’s professional analysis support this hope by implying that the altcoin could be about ready to climb from its present plateau.

Litecoin Price Forecast

Looking ahead, Litecoin has a quite bright future. LTC is expected to climb 11.73% over the next three months, according to CoinCheckup; this might create conditions for a more spectacular surge of 211.52% during the following six months. With an expected increase of 143% during the next year, the long-term projection is even more hopeful.

This projection highlights the possibility for large returns, therefore presenting Litecoin as a good investment choice for anyone ready to negotiate the erratic bitcoin market. Litecoin could possibly be about to enter a new phase of expansion based on technical signs pointing to an impending spike and professional opinions supporting the prognosis.

Investors should approach with care and do extensive study as usual before deciding what to invest in. The market for cryptocurrencies is notorious for its volatility, hence even if Litecoin seems to have bright future potential, it is advisable to remain knowledgeable and strategic in any kind of investing strategy.

Featured image from Inc. Magazine, chart from TradingView

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XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices.

Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently

According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery. The indicator of interest here is the “Weighted Sentiment,” based on two other metrics: Sentiment Balance and Social Volume.

The Sentiment Balance tells us about the current net sentiment on major social media platforms. This indicator works by putting posts/threads/messages related to a given coin through a machine-learning model to identify whether they are positive or negative.

Once the metric has found out the number of posts of each type, it takes their difference to determine the net situation around the asset on social media.

There is perhaps one flaw in the Sentiment Balance, though, and it’s the fact that it contains no information about how many users share this sentiment. Sometimes, discussion around the cryptocurrency can be low, so whatever the metric would signal would only correlate to what the few users talking about it think, which may not necessarily relate to the majority.

The Weighted Sentiment fixes this problem by also incorporating Social Volume data. The Social Volume keeps track of the degree of talk that any given asset receives on social media platforms.

Thus, the Weighted Sentiment only registers a spike (in either direction) when not only does the Sentiment Balance have a high value but also the Social Volume is signaling the presence of high discussions.

Now, here is a chart that shows the trend in this metric for Litecoin and XRP over the past month:

Litecoin & XRP Weighted Sentiment

As displayed in the above graph, the Weighted Sentiment has seen spikes into the positive territory for both XRP and Litecoin with their recent price surges. This suggests that many positive posts have appeared around these coins.

Historically, highly positive sentiment has been a bearish sign for any asset, with tops becoming probable as investors FOMO. The chart shows that XRP had seen a rise in FOMO earlier in the month, and the cryptocurrency had set a top alongside this spike.

As such, the latest spike in the Weighted Sentiment may not be ideal for the recovery runs that XRP and Litecoin have started. “These coins can continue to rise, but the crowd’s euphoria toward these assets could make them high-risk, high-reward investments this week,” notes the analytics firm.

XRP Price

XRP has enjoyed a rally of almost 26% in the past week, which has taken its price back above the $0.54 level.

XRP Price Chart

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Litecoin In Uphill Battle: Strong Resistance Might Block Recovery

On-chain data suggests Litecoin potentially has a major amount of resistance waiting just ahead, making a recovery more difficult for LTC’s price.

Litecoin Has A Large Supply Wall Waiting At Levels Just Ahead

As pointed out by X user Trader Kamikaze using data from the market intelligence platform IntoTheBlock, a large amount of LTC investors bought at levels that are coming ahead.

Below is the IntoTheBlock chart that shows the distribution of LTC addresses based on the price at which they last bought their coins on the network.

Litecoin Cost Basis

Here, the size of the dot correlates to the amount of cryptocurrency acquired in the corresponding price range. As is clearly visible, the $81.64 to $83.88 range has a large dot associated with it, meaning that a large number of tokens were bought while the asset traded within it.

More specifically, 432,070 addresses bought around 6.67 million LTC inside this range. This amount is worth north of $534 million at the current exchange rate.

Now, what relevance could this have for Litecoin? In on-chain analysis, the strength of any level as support or resistance comes down to how many coins were acquired at said level. As such, this thick LTC range with investors could potentially influence the cryptocurrency upon a retest.

The reason behind this theory is that the cost basis is an important level for any holder, so they may be more prone to show some reaction when a retest of it takes place. The larger the number of investors who share their cost basis inside a narrow range, the stronger this reaction would be.

What kind of reaction a retest would produce depends on whether it’s happening from above or below. Investors in losses just before the retest (that is, it’s taking place from below) might tend towards selling, as they could fear the price would go down again shortly. Exiting at the break-even mark would mean at least they can avoid realizing any losses.

On the other hand, holders in the green leading up to the retest could decide to take a further gamble, believing that the price would go up again.

Therefore, levels below the current price can be points of support, while those above resistance. As Litecoin has a notable supply wall at levels just ahead of the current one, it’s possible that a retest of it could produce a selling reaction.

It now remains to be seen if this thick range would impede LTC’s recovery, should the cryptocurrency rise to retest it.

LTC Price

Litecoin is currently situated just below the supply above wall, as its price is trading around $80.

Litecoin Price Chart

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Litecoin Sees Massive 75% Surge In Major Metric – Can This Trigger A Rally To $200?

Daily active addresses on the Litecoin blockchain have seen a drastic uptick despite days of uninteresting price action. The substantial rise in active Litecoin addresses and overall interest suggests a price rally could be on the horizon.

Litecoin’s price movement has generally been left behind in the past month, with the cryptocurrency struggling to retain a positive price in the past 30 days. However, this could change very soon, as on-chain data suggests volatility could be happening very soon. The positive on-chain data, which comes in the form of daily active addresses, suggests increased network activity, which could increase the price of Litecoin.

Litecoin Active Addresses See Massive 75% Surge

Increases in active addresses are generally a precursor to price rallies, especially when they occur in a short period of time. According to on-chain data from IntoTheBlock, Litecoin has seen a massive surge of over 75% in its number of daily active addresses, pushing the metric to its highest point since January. Particularly, this surge saw the number of daily active addresses reach above 602,000 at some point during the week, over 100,000 more than those recorded on Ethereum. 

Interestingly, this activity has come amidst a corresponding decrease in the price of Litecoin. The altcoin has seen its value drop by 3.5% in the past seven days in a wider decline in the price of many altcoins. 

Similarly, IntoTheBlock noted an increase in the number of Litecoin transactions. Particularly, the number of transactions reached 426,000 on Thursday, which is its highest point this month. However, it is important to note that the majority of these transactions were worth less than $10, and over 174,000 transactions were worth less than $1.

Impact On The Price Of Litecoin

Overall, the huge uptick in Litecoin addresses is a very positive sign for the network and hints at the potential for an exciting price rally. However, the the positive momentum could end as soon as it started, especially considering the small transaction sizes.

On the other hand, the increased activity could extend and translate into bullish momentum in the new week. This in turn could kickstart a price run up and Litecoin outperforming many altcoins. The first resistance level to overcome is just above $80. Getting above $80 would set a free move to $85, which would then suggest that the bulls are back in control. However, Litecoin’s rally to $200 remains bleak at the moment, as move of that magnitude seems unlikely given the recent sluggish price action. 

Recently, the Litecoin network reached another significant milestone by successfully completing 250 million transactions.

Featured image from TechCrunch, chart from TradingView

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Litecoin Overtakes Ethereum In This Metric – What’s Happening?

The price of Litecoin (LTC) has had a disappointing performance in the second quarter of 2024, despite making a positive start to the year. The cryptocurrency has been facing significant bearish pressure in the past day, with its price falling by nearly 5% in a single move.

Despite LTC’s apparent struggles in terms of price action, its network has witnessed remarkable growth in recent weeks. 

LTC Addresses Spike By 75% In A Single Day

According to data from the on-chain analytics firm IntoTheBlock, activity on the Litecoin blockchain has been on the rise lately. On Thursday, June 8th, the number of active addresses on the network surged by over 75% to claim above 600,000.

IntoTheBlock revealed – via a post on the X platform – that this latest spike in addresses pushed the Litecoin network to a new high since January. This suggests increased interest in the LTC blockchain despite its coin’s price struggles.

Litecoin

When the number of addresses with a balance increases, it implies the entry of fresh investors or the return of old owners to a blockchain (Litecoin, in this case). It is often a strong indication of net adoption or rising faith in a particular network.

Interestingly, the crypto intelligence firm highlighted that this recent growth spurt has propelled Litecoin ahead of the smart contract platform Ethereum in terms of active addresses. The network is well ahead of Ethereum by at least 100,000 addresses, according to IntoTheBlock.

The number of active addresses is not the only area in which Litecoin has seen growth in the past day. The volume of transactions also experienced a significant increase. According to IntoTheBlock’s data, the number of LTC transactions surpassed 426,000 on Thursday.

The on-chain analytics platform noted:

While most of the increase is due to transactions smaller than $10, there is a noticeable rise in transactions of all sizes.

Impact On Litecoin Price

Strong fundamentals and network growth have been known to drive the price of crypto assets in many scenarios. In simple terms, an increase in network activity and users often translates to an increase in the network’s valuation.

However, the impact of network fundamentals on asset prices is never straightforward. In Litecoin’s case, there has been no significant positive development in its price since the latest on-chain revelation. 

As of this writing, the price of LTC stands around $80.28, reflecting a 4.5% decline in the past day.

Litecoin

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Litecoin Whales Go On $230 Million Buying Spree: Will This Change LTC’s Stars?

On-chain data shows the Litecoin whales have gone on a $230 million buying spree recently, which could bring bullish winds for the coin.

Litecoin Whales Have Been Making Net Inflows To Their Wallets Recently

According to data from the market intelligence platform IntoTheBlock, the Litecoin whales have received large net inflows in their addresses over the past month or so.

The on-chain indicator relevant here is the “Large Holders Netflow,” which tracks the net amount of Bitcoin entering into or moving out of the combined wallets of investors owning at least 1% of the cryptocurrency’s circulating supply.

IntoTheBlock defines such “large holders” as the whale entities of the asset. Whales are generally considered to be influential beings on the network, owing to their ability to move large amounts on the network in a short span of time.

When the Large Holders Netflow has a positive value, it means that these humongous investors are receiving a net amount of coins into their balance right now. Naturally, such buying can be bullish for the coin’s price.

On the other hand, the negative indicator implies the whales are potentially participating in selling currently, which could have bearish consequences for the asset.

Now, here is a chart that shows the trend in the Litecoin Large Holders Netflow over the past month:

Litecoin Large Holders Netflow

As displayed in the above graph, the Litecoin Large Holders Netflow has mostly observed positive values inside this window, suggesting that the whales’ wallets have been receiving net deposits.

According to the analytics firm, these large holders have accumulated 2,751,633 LTC in the last 30 days. At the current exchange rate of the asset, this stack is worth a whopping $230 million.

As the chart also shows, the indicator spiked particularly strongly on the 10th of this month. During these net inflows alone, the whales bought 900,000 LTC, the highest daily amount since February, representing around one-third of the total accumulation in the past month.

This buying spree from the large holders has come as the asset’s price has been consolidating around its lows following the mid-April crash. Thus, it would imply the whales believe the recent prices of Litecoin to have been worthy entry points into the coin.

This could certainly be a bullish sign for the cryptocurrency, so it remains to be seen how the asset’s price will develop in the near future. The indicator may be worth monitoring, though, as its value turning negative could instead spell a bearish outcome for the coin.

LTC Price

Litecoin has continued to consolidate inside its range recently as its price is currently trading around $84.

Litecoin Price Chart

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Litecoin Put To The Test: Can LTC Break Through $94?

Litecoin (LTC), the cryptocurrency often dubbed “silver to Bitcoin’s gold,” has left investors scratching their heads this week. After a brief surge, LTC finds itself stuck in a price tug-of-war, with analysts divided on whether it will climb to $90 or fall back to its support level near $80.

Mixed Signals Cloud Litecoin’s Future

Last week’s price action for LTC was a rollercoaster ride – not the kind that sends investors screaming with joy, but a slow, rickety climb followed by a disappointing stall. Despite breaking the $80 barrier on May 15th, LTC’s momentum fizzled out, leaving it hovering around $83.81 at press time.

Popular crypto analyst, CRYPTOWZRD, isn’t mincing words. Their recent tweet paints a picture of indecision, with LTC trapped in a price range between $80 and $94. A breakout, either bullish or bearish, seems imminent, but the direction remains a mystery.

To decipher LTC’s next move, analysts are turning to on-chain metrics – the digital breadcrumbs left behind by cryptocurrency transactions. Here, too, the picture is far from clear.

Glassnode’s NVT ratio, a measure of undervaluation, is flashing red, suggesting a potential price dip. However, a low reserve risk metric hints at an upcoming surge in bullish sentiment. Whale activity, often a bullish indicator, remains high, and the MVRV ratio, which gauges profitability for long-term holders, has also taken an upward turn.

Litecoin: Technical Indicators Offer Tentative Hope

Meanwhile, technical indicators offer a glimmer of hope for LTC bulls. The Relative Strength Index (RSI) sits comfortably above the neutral mark, suggesting the coin isn’t overbought.

One damper on the party spirit comes from the Bollinger Bands, a volatility indicator. LTC’s current position within the bands suggests a period of low volatility, making a sudden price surge less likely.

This subdued volatility is significant because Bollinger Bands typically tighten when market prices consolidate, signaling a lack of strong directional movement. For LTC, this means that without an external catalyst to drive momentum, the likelihood of a dramatic price breakout is diminished.

Crucial Levels: The $80-$85 Tightrope Walk

For LTC to reach its holy grail of $90, it needs to conquer a crucial resistance level at $85. This hurdle could be particularly challenging due to potential liquidations that might occur at that price point.

On the downside, if LTC fails to hold its ground at the $80 support level, a price drop to $78 could be on the cards.

Featured image from Pixabay, chart from TradingView

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Litecoin Price Prediction: LTC Could Rally If It Clears This Barrier

Litecoin price is recovering higher from the $75.00 zone against the US Dollar. LTC could continue to rise if it clears the $84.00 resistance zone.

  • Litecoin is showing positive signs from the $75 support zone against the US Dollar.
  • The price is now trading below $85 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair (data feed from Kraken).
  • The price could gain bullish momentum if it clears the $83-$84 resistance zone.

Litecoin Price Aims Higher

After a steady decline, Litecoin found support near the $75.00 resistance zone, like Bitcoin and Ethereum. LTC price started a recovery wave above the $78.00 and $80.00 resistance levels.

It even cleared the 50% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The bulls even pumped the price above $82.00, but the bears were active near the 100 simple moving average (4 hours).

There is also a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair. Litecoin is now trading below $85 and the 100 simple moving average (4 hours).

On the upside, immediate resistance is near the $83.00 zone or the 61.8% Fib retracement level of the downward move from the $88.49 swing high to the $74.59 low. The next major resistance is near the $84 level. If there is a clear break above the $84 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 $88.50 and $90.00 levels. Any more gains might send LTC’s price toward the $95.00 resistance zone.

Are Dips Supported in LTC?

If Litecoin price fails to clear the $84 resistance level, there could be a downside correction. Initial support on the downside is near the $80.00 level.

The next major support is forming near the $77.80 level, below which there is a risk of a move toward the $75.00 support. Any further losses may perhaps send the price toward the $70.00 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 – $80.00 followed by $77.80.

Major Resistance Levels – $83.00 and $84.00.

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Bullish Litecoin: Mystery Signal Points To $100 Price Explosion

Litecoin (LTC) defied the overall sluggishness of Proof-of-Work (PoW) coins this week, climbing 4% to a two-week high of $86 on April 26. This surge has rattled short sellers and ignited a potential short squeeze, with analysts predicting a bullish run towards the $100 mark.

Litecoin Bulls Flex Their Muscle

While other cryptocurrencies have struggled to gain momentum this week, Litecoin bulls have managed to push slightly ahead. This unexpected rally has added a significant $190 million to Litecoin’s market capitalization, showcasing a renewed investor interest in the digital silver.

Market watchers attribute the surge to a confluence of factors. Firstly, a significant number of traders are betting big on Litecoin’s continued rise, evident in the overwhelming leverage applied in the derivatives market.

Data from Coinglass reveals a bullish sentiment, with the value of long leveraged positions exceeding shorts by a notable margin. This optimistic outlook places immense pressure on short sellers, who stand to incur heavy losses if the price keeps climbing.

Short Squeeze Looms As Price Eyes $100

The current price action suggests that a short squeeze might be brewing. Short sellers borrow LTC tokens, sell them at a higher price in anticipation of buying them back later at a lower price to pocket the difference.

However, if the price goes up instead of down, they are forced to buy back LTC at a loss to cover their positions. This buying activity to mitigate losses further pushes the price up, creating a snowball effect.

Analysts estimate that a mere 10% price increase, propelling LTC to $96, could trigger liquidations worth $16 million for short sellers. Conversely, bullish traders have amassed leveraged long positions exceeding $16 million around the current price point. This leverage disparity empowers the bulls to potentially drive the price towards the coveted $100 milestone in the coming days.

Volatility Ahead: A Word Of Caution

While the short-term outlook for Litecoin appears optimistic, experts advise caution. The current rally seems primarily driven by speculation and leveraged trading, not necessarily by fundamental advancements within the Litecoin ecosystem.

This dependence on market sentiment makes the price susceptible to swings. If the bullish momentum fizzles out, a price correction could trigger significant liquidations of overleveraged long positions, causing a reversal.

The coming days will be crucial in determining whether the bulls can maintain control and propel LTC to $100, or if the bears regroup and trigger a reversal of fortunes.

Featured image from Pexels, chart from TradingView

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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.