Litecoin whales are on the move: Is the rise coming?

Litecoin (LTC), which was launched in 2011, managed to hold an important support point with the increase in whale activity.

Litecoin, one of the oldest altcoins in the crypto market, increased by 2.9 percent throughout the year. It was reported that whales accumulated in LTC, which has been performing poorly.

According to the analysis, price movement can be seen in LTC, which is struggling to maintain $ 67, in the near future.

Litecoin (LTC) is testing a critical support level of $ 67. Despite the increasing network activity, only 28 percent of LTC holders are profitable.

According to the analysis prepared by AMBCrypto, a negative picture may emerge if the LTC price is stored at $ 67. The data indicates that more selling pressure can be seen in the popular altcoin.

Santiment data has revealed that major assets are preparing for a potential price change. Whales are trying to establish more dominance in LTC.

He noted the analysis results that commented on the whale's details;

"The accumulation in question is an indication that whales may have reached the bottom levels of LTC or that a potential purchase opportunity has emerged."

The number of active addresses in Litecoin increased by 2 percent in the last 24 months, indicating an improvement in user transactions. The analysis evaluated the increase in the number of addresses as "the demand process has started". AMBCrypto, which is waiting for a meeting at the LTC price, also drew attention to the fact that wallet owners will make profit.

The fact that 28 percent of budgets holding LTC are profitable was interpreted as a potential reversal signal. According to the data in question, the vast majority of the profits purchased LTC at a higher price.

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