Litecoin (LTC) is trying to break through to $80. On Thursday, June 13, the LTC rate strengthened to $79, and the average daily trading volume increased to $392.3 million.
The bulls tried several times to bring LTC closer to $80, where a critical resistance zone formed.
Santiment analysts believe that a breakthrough above $80 will be possible with increased network activity. Its first signs have been observed since the beginning of this week. On the Litecoin network, the number of addresses sending and receiving funds daily has increased from 340,000 to 704,000.
Moreover, the activity of LTC holders has been increasing since last month. The RSI is at its lowest level since September. Experts have come to the conclusion that Litecoin has found its bottom above $75, and now the cryptocurrency is in a consolidation phase.
A breakthrough due to a surge in network activity is possible, but most likely it will be short-term, according to Santiment. Bears dominate the market, resulting in Litecoin remaining in a narrow price range.
According to the IntoTheBlock platform, 36% of addresses on the LTC network are still making a profit, and 59% of altcoin holders are in a loss-making state.
