LTC has broken above $90 again after the drop to $67 on March 12 raised network-wide bearish concerns. With Litcoin miners stacking their bags again. Is the coast clear for LTC to flip $100?

Litecoin miners entered a sell-off frenzy in late March amid bearish concerns and rising costs. On-chain data reveals that they have replenished their reserves in the past week. Similarly, a cohort of whales has started buying. With LTC now back above $90, how much more do the bulls have in the tank?

Litecoin Miners Are Stacking Up

According to on-chain data compiled by IntoTheBlock, Litecoin miners have added more coins to their reserves following a sell-off frenzy in March. The chart below shows how the miners increased their LTC holdings from 4.37 million to 4.47 million between March 25 and April 3.

Litecoin (LTC) Miners Reserve. April 2023. Source: IntoTheBlock

The additional 100,000 LTC coins the miners have accumulated are worth approximately $9.3 million. When miners accumulate block rewards, it reduces the supply of new coins hitting the market. This can inspire other investors to become bullish about the future price prospects of LTC.

Similarly, on-chain data from Santiment shows that a strategic cohort of Litecoin whales have been in an accumulation frenzy in the past month.

As shown below, the whales holding between 1 million to 10 million LTC have added 890,000 coins worth approximately $82 million to their balances between March 19 and April 4.

Litecoin (LTC) Whales Accumulation. April 2023. Source: Santiment

An increase in the balances of whale wallets indicates growing interest from institutional investors and high-net-worth individuals.

In summary, considering the buying power they wield, a coordinated accumulation trend among whales and Litecoin miners can trigger a prolonged rally.

LTC Price Prediction: $100 is Within Reach

Going by IntoTheBlock’s Global In/Out of the Money Chart, LTC will likely cross the $100 milestone in the coming weeks.

As shown below, LTC faces a minimal resistance of 7,000 addresses holding 34,000 coins around the $96 mark. But if it can scale that zone, it could rally toward $110, where the next significant resistance lies. There, profit-taking from the cluster of 898,000 addresses holding 4.6 million coins could inadvertently derail the rally.

Litecoin (LTC) Global In/Out of the Money chart. April 2023. Source: IntoTheBlock

Yet, the bears can seize the narrative if LTC fails to hold its current support around $88. However, the army of 646 million addresses holding 9.4 million coins here can help shore up the price.

But if that support zone fails to hold, LTC may again drop below $80, the minimum price that another 450,000 had paid for 6.59 million coins.

#LTC #LITECOIN #Binance #crypto2023 #crypto

Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday.

Dogecoin (DOGE)

Dogecoin (DOGE) climbed higher on Saturday after lawyers for Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped.

In a statement, Musk’s lawyers said, “There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion.”

Following a low of $0.07456 on Friday, DOGE/USD rose to a peak of $0.07841 to start the weekend.

DOGE/USD – Daily Chart

This came as the relative strength index (RSI) also briefly moved beyond a resistance of its own at 52.00

At the time of writing this, the index is now tracking at 51.99, with earlier gains in DOGE mostly easing.

Litecoin (LTC)

Litecoin (LTC) was another notable gainer to start the weekend, as the token also neared a one-week high.

LTC/USD surged to an intraday high of $93.85, less than 24 hours after prices were trading at a low of $88.34.

This rally sent litecoin to its strongest point since last Sunday, March 26, when it rose to a peak at $94.92.

LTC/USD – Daily Chart

Looking at the chart, today’s gain pushed LTC close to a point of resistance at $94.00, however, bulls have so far been unable to force a breakout.

This is likely due to the 14-day RSI hovering close to a ceiling of its own, at the 57.00 mark.

Should bulls move beyond this point, then there is a good chance that LTC will move beyond $94.00.

#LTC #LITECOIN #DOGE #DOGECOIN #Binance

After surpassing the initial resistance level of $96 on April 14, Litecoin continued to rise and reached $103 on April 18. However, the bullish momentum was not sustained, and the price was unable to hold onto these higher levels.

#LITECOIN , like Bitcoin, is trading below $95 against the US dollar. If the price of LTC remains below the $88 barrier level, it may continue to fall. Bitcoin, Ethereum, Ripple, and Litecoin have all recently fallen in value against the US dollar.

Earlier, #LTC began a steady rise above the $95 and $100 resistance levels. Despite attempting to surpass the $103.50 level, the bears took control of the market, causing the price of LTC to experience a significant decline.

The value dropped abruptly below the $100 and $95 levels, and a key bullish trend line with support near $93 on the 4-hour chart of the LTC/USD pair was broken. The price even briefly dipped below $90 before reaching a low point of $87.00. Currently, the price is consolidating losses and is testing the 23.6% Fib retracement level of the drop from the $103.44 swing high to the $87.00 low.

The $92 zone is currently posing resistance for the price of LTC, with the next major hurdle being the $95 level, which aligns with the 50% Fib retracement level of the drop from the $103.44 swing high to the $87.00 low. The $100 level is the primary resistance level, and a convincing push above it could propel the price towards $103 or even $105. In such a scenario, the next significant resistance level could be at $115.

If the price falls, the immediate support level is at $89.00, followed by a key support level at $86.00. If the price breaks below the $86 support level, it may experience accelerated downward momentum, potentially reaching the $80 level in the short term.

KEY LEVELS :

RESISTANCE LEVEL : $94-$98

SUPPORT LEVEL : $87-$83

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#coingabbar #crypto2023 #dyor

After a 24-hour plunge to a low of $87.78, Litecoin (LTC) market bears were victorious. Having bottomed out at this point in the trading day, the bulls have since taken control, pushing the price to a high of $90.36 before running into some resistance. The price is consolidating around this level, with LTC valuing $89.82 as of press time, a 0.92% surge.

The LTC’s market capitalization increased by 1.02% to $6,541,931,221, demonstrating rising investor confidence in the LTC market and the possibility of more price gains soon.

The 24-hour trading volume, on the other hand, plummeted by 47.29% to $465,341,657, indicating that the current price spike may not be sustainable in the medium term and that traders may be taking gains off the table.

On the LTC/USD price chart, the linear movement of the Bollinger band indicates a high degree of volatility, with prices expected to change significantly within the upper ($92.313170) and lower ($86.748797) bands.

Price action’s recent move below the SMA line while producing a red candlestick implies that a bearish trend is brewing in the market, signaling that traders should consider selling or shorting their holdings to capitalize on probable price declines.

With a rate of change rating of 1.42 and moving southwards, the bullish momentum is losing power, indicating the potential of a negative trend. This action warns investors to exercise care and consider taking profits or applying risk management methods to safeguard their investments.

The ATR value of 1.937744 indicates that the positive momentum in the LTC market is pretty strong, and the price is more likely to climb. However, the ATR pointing southward indicates that there may be short-term price fluctuations, and traders should exercise caution when making investment decisions.

With a Fisher Transform rating of 0.83 and above the signal line, LTC’s bullish potential remains high, suggesting that it may be a good investment opportunity for long-term investors.

Despite a recent price dip and lower trading volume, Litecoin’s market cap is up and its bullish potential remains high. Investors should proceed with caution.

#LTC #LITECOIN #crypto2023 #crypto #Binance

Litecoin (LTC) joined the ranks of cryptocurrencies with a good growth record for today as its price has jumped to $96.13, up by 8.07% over the past 24 hours. According to data from CoinMarketCap, Litecoin's current price level represents a significant breach of the resistance point at $95.

Though Litecoin is exhibiting a very strong correlation with Bitcoin (BTC), which in part explains the former's current price growth, the digital currency is also exhibiting a very defined ecosystem fundamental to deserve the upshoots it has recorded thus far.

As gleaned from one of the protocol's Twitter accounts, a major new release billed for the Litecoin Core is currently in the works. As it stands, regular protocol upgrades are seen as one of the most viable ways to convince users of the utility and security that can be gained by pitching their tents with a digital currency like Litecoin.

A new major release to Litecoin Core is in the works! ⚡PSBTs ⚡P2P Support for Light Clients ⚡View Keys ⚡Payment Proofs ⚡Descriptor wallets Read more in the latest update from @DavidBurkett38 https://t.co/BgPe7Mrktu

— Litecoin (@litecoin) April 10, 2023

While it is regarded as one of the most robust and secure payment networks in the Web3.0 world, Litecoin is still working hard to make its systems more usable through the new proposed upgrades.

Litecoin upgrade and expectations

According to the update shared, the upgrades will cover Partially Signed Bitcoin Transactions (PSBTs), P2P support for Light Clients, Viewing Keys, Payment Proofs and Descriptor Wallets.

While the upgrade appears technical, on the front end, it means that users can have a smoother user interface and functionalities that will largely enhance their experience using the digital currency.

Litecoin has maintained a relatively stable price trend thus far this year. The cryptocurrency was subtly designated as a commodity by the United States Commodity Futures Trading Commission (CFTC), a move that has helped solidify the trust investors have for the cryptocurrency as a whole.

#LTC ~#crypto2023 #LITECOIN #Binance #cryptotrading

#LITECOIN

Introduction:

Litecoin, one of the prominent cryptocurrencies, is gearing up for its long-awaited halving event, scheduled to occur in just a few weeks. This anticipated milestone has created a buzz within the crypto community, as historical patterns suggest that Litecoin's price could experience a significant surge following the halving. In this article, we will explore the concept of halving, understand its impact on Litecoin, and analyze the historical price trends associated with previous halving events.

Understanding Halving:

Halving is a fundamental mechanism embedded in the code of certain cryptocurrencies, including Litecoin. It occurs when the block reward for miners is reduced by half, leading to a decreased rate of coin issuance. In the case of Litecoin, the halving takes place approximately every four years or after every 840,000 blocks. The primary purpose of halving is to control inflation, maintain scarcity, and ensure a fair distribution of coins over time.

Historical Impact on Price:

The previous halving events of Litecoin have demonstrated a consistent pattern of price appreciation. The reduction in coin issuance, coupled with growing demand, has historically resulted in increased scarcity and perceived value of Litecoin. In both the 2015 and 2019 halvings, Litecoin experienced substantial price rallies in the months leading up to and following the event.

In 2015, Litecoin's price surged by over 400% within a year after the halving. Similarly, during the 2019 halving, Litecoin witnessed a remarkable price run-up, reaching its peak several months after the event. These historical trends have instilled optimism among Litecoin enthusiasts, speculating that the upcoming halving could trigger another substantial price increase.

Factors Influencing Price Surge:

Several factors contribute to the potential price surge following the halving. Firstly, the reduced block rewards lead to a decrease in the available supply of new coins, creating scarcity in the market. As demand for Litecoin remains steady or increases, this limited supply can drive up the price due to basic supply and demand dynamics.

Additionally, the halving event often attracts attention from investors and traders looking to capitalize on the anticipated price surge. The increased market activity and trading volume surrounding the event can further fuel the upward momentum of Litecoin's price.

Conclusion:

As Litecoin's halving approaches, excitement and speculation surround the potential price surge that has been witnessed in the past. While historical patterns suggest a positive impact on price, it is important to note that the cryptocurrency market is highly volatile and influenced by numerous factors beyond the halving event alone.

Investors and enthusiasts should exercise caution and conduct thorough research before making any investment decisions. The cryptocurrency landscape is constantly evolving, and external factors such as market sentiment, regulatory developments, and macroeconomic conditions can all impact the price movements of Litecoin and other cryptocurrencies.

Nevertheless, the upcoming Litecoin halving undoubtedly brings an air of anticipation, and many eyes will be closely monitoring the price action in the weeks and months following this significant event. Only time will tell whether Litecoin will once again experience a substantial price surge, adding another chapter to its halving history.