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Litecoin whales are on the move – What do they know?

2min Read

Litecoin is testing the $67 support level with rising whale and trading activity.

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  • Litecoin was battling to hold its $67 support level, with whale activity hinting at a potential reversal.
  • Despite growing network activity, only 28% of LTC holders were in profit.

Litecoin [LTC] bearish momentum was fading after a 4% in the last three days. As of writing, LTC was testing the key support level at $67. This support level is significant because if the price breaks down below it, there may be further selling.

However, if the bullish indicator and metrics remain in play, a successful rebound may be on the cards.

Litecoin headed for a bounce?

Whale accumulation around Litecoin has increased. According to AMBCrypto’s analysis of Santiment data, large investors have been taking positions, perhaps in preparation for a potential change in market direction. 

Generally, this type of accumulation is indicative of the belief of such whales that Litecoin might have reached a bottom, or at least that whales consider these prices a potential buying opportunity.

Source: Santiment

A spark of hope in growing active addresses

Another positive sentiment for Litecoin is the increase in its active addresses. In the past 24 hours alone, the number of active addresses increased by 2% to show growth in users and activity on the network.

The surge could just precede a price stabilization or recovery, with more market participants trading and moving Litecoin to indicate the asset is once again in demand.

Source: IntoTheBlock

Only 28% of Litecoin holders are in profit

Despite these positive signals, only 28% of Litecoin holders are currently in profit. This suggests the majority of them purchased Litecoin at a higher price and were still waiting for a turnaround in the market.

This would be a relief in the current price action, considering the $67 support holds or triggers further losses if the support breaks down.

Source: IntoTheBlock


Read Litecoin’s [LTC] Price Prediction 2024–2025


Litecoin’s short-term future is much a factor in whether it sustains above the $67 mark. Whales are interested, and so are active addresses. 

However, many investors are underwater. The forthcoming days are decisive with regard to whether LTC can actually bounce back, or if the bearish trend will continue.

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Kelvin Murithi is an Economic and Crypto-Asset Analyst at AMBCrypto who provides a sophisticated, data-driven perspective on the financial markets. His analysis is deeply rooted in his academic and professional background, combining macroeconomic principles with technical asset analysis. He holds a Bachelor's degree in Economics and Statistics, which provides the rigorous quantitative foundation for his work in economic forecasting and investment strategy. Prior to specializing in the digital asset space, Kelvin honed his skills as a Financial and Data Analyst, where he was responsible for analyzing complex datasets and financial models. At AMBCrypto, Kelvin leverages this powerful blend of experience to deliver insightful price analysis. He specializes in interpreting how broader economic trends impact the cryptocurrency market, while also applying technical analysis to identify key price levels and potential trading opportunities. His mission is to equip readers with a multi-layered understanding of the market, enabling them to make strategic and well-informed investment decisions.
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