Litecoin, for most part of the current year, has been silent and is only mentioned when its price goes down relative to the overall sentiment of the whole crypto market.<\/p>\n
Litecoin manages to increase its value by 1.3% over the last week
\nLTC is seen trading at $54.89 over the next five days
\nA sharp fall from its current trading price is likely to happen over the next few weeks<\/p>\n
Since attaining its $410.26 all-time high (ATH) on May 10 last year, the crypto has been on a steady decline, losing a big chunk of its milestone value.<\/p>\n
As of Monday (Oct. 25), according to data from Coingecko<\/a>, the 22nd largest cryptocurrency in terms of market capitalization is trading at $52.80, up 1.7 percent in the last seven days.<\/p>\n LTC only managed to pump its price by 1.4% over the last month and has not shown any indication of trimming its losses since it hit its ATH.<\/p>\n But over the last week, Litecoin\u2019s ecosystem witnessed significant activities that might convince prospective buyers to put their money on the digital asset.<\/p>\n LTC managed to increase its value by 3% over the last 24 hours and by 1.3% for the past week. Such a development is a surprise considering many digital currencies, Bitcoin and Ethereum included, continue to struggle with the extended bearish market landscape.<\/p>\n But Litecoin managed to stay green across its price charts except for its year-to-date tally probably because of the tremendous network activity<\/a> its blockchain is currently witnessing.<\/p>\n Source: TradingView<\/p>\n According to data shared by Santiment, on October 20, as LTC price started to rise against crypto alpha Bitcoin, whale transactions on Litecoin network reached over $1 million.<\/p>\n Daily active address count also surged for the asset and blockchain project over the last week, indicating there is significant interest boost among holders and investors.<\/p>\n #Litecoin<\/a> has been quietly under the radar in 2022, but address activity & whale transactions have exploded this week. Particularly with $1m+ valued transactions on the network, the timing of these spikes happened just as $LTC<\/a> began rising vs. $BTC<\/a>. https:\/\/t.co\/jtQYW7mHuP<\/a> pic.twitter.com\/brIzjj6lFF<\/a><\/p>\n \u2014 Santiment (@santimentfeed) October 20, 2022<\/a><\/p>\n Such a tremendous increase<\/a> in network activity usually bodes well for an asset. This, however, is not the case for Litecoin as its metrics point towards a sharp price dump.<\/p>\n On October 5, LTC\u2019s Relative Strength Index (RSI) was at 62. But for the past few weeks, this indicator declined to a value of 41.<\/p>\n Money Flow Index (MFI) for the asset is also on a downtrend, settling for a score of 41 which is below the 50-neutral region.<\/p>\n Litecoin is also being overwhelmed by extreme selling pressure as reflected on its negatively valued Chaikin Money Flow (CMF).<\/p>\n With this, while the crypto might rally up to $54.89 for the next five days, there\u2019s no time celebrate as the asset is forecasted to plummet<\/a> all the way to $35.40 over the next 30 days.<\/p>\n\n LTC total market cap at $3.75 billion on the daily chart | Featured image from Pixabay, Chart: TradingView.com<\/a><\/p>\n Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Litecoin, for most part of the current year, has been silent and is only mentioned when its price goes down relative to the overall sentiment of the whole crypto market.<\/p>\n Litecoin manages to increase its value by 1.3% over the last week Since attaining its $410.26 all-time high (ATH) on May 10 last year, the crypto has been on a steady decline, losing a big chunk of its milestone value.<\/p>\n As of Monday (Oct. 25), according to data from Coingecko<\/a>, the 22nd largest cryptocurrency in terms of market capitalization is trading at $52.80, up 1.7 percent in the last seven days.<\/p>\n LTC only managed to pump its price by 1.4% over the last month and has not shown any indication of trimming its losses since it hit its ATH.<\/p>\n But over the last week, Litecoin\u2019s ecosystem witnessed significant activities that might convince prospective buyers to put their money on the digital asset.<\/p>\n LTC managed to increase its value by 3% over the last 24 hours and by 1.3% for the past week. Such a development is a surprise considering many digital currencies, Bitcoin and Ethereum included, continue to struggle with the extended bearish market landscape.<\/p>\n But Litecoin managed to stay green across its price charts except for its year-to-date tally probably because of the tremendous network activity<\/a> its blockchain is currently witnessing.<\/p>\n Source: TradingView<\/p>\n According to data shared by Santiment, on October 20, as LTC price started to rise against crypto alpha Bitcoin, whale transactions on Litecoin network reached over $1 million.<\/p>\n Daily active address count also surged for the asset and blockchain project over the last week, indicating there is significant interest boost among holders and investors.<\/p>\n #Litecoin<\/a> has been quietly under the radar in 2022, but address activity & whale transactions have exploded this week. Particularly with $1m+ valued transactions on the network, the timing of these spikes happened just as $LTC<\/a> began rising vs. $BTC<\/a>. https:\/\/t.co\/jtQYW7mHuP<\/a> pic.twitter.com\/brIzjj6lFF<\/a><\/p>\n \u2014 Santiment (@santimentfeed) October 20, 2022<\/a><\/p>\n Such a tremendous increase<\/a> in network activity usually bodes well for an asset. This, however, is not the case for Litecoin as its metrics point towards a sharp price dump.<\/p>\n On October 5, LTC\u2019s Relative Strength Index (RSI) was at 62. But for the past few weeks, this indicator declined to a value of 41.<\/p>\n Money Flow Index (MFI) for the asset is also on a downtrend, settling for a score of 41 which is below the 50-neutral region.<\/p>\n Litecoin is also being overwhelmed by extreme selling pressure as reflected on its negatively valued Chaikin Money Flow (CMF).<\/p>\n With this, while the crypto might rally up to $54.89 for the next five days, there\u2019s no time celebrate as the asset is forecasted to plummet<\/a> all the way to $35.40 over the next 30 days.<\/p>\nLitecoin Whale Transactions And Address Activity Up<\/strong><\/h2>\n
Will This Help Litecoin Become Bullish Again?<\/h2>\n
\nLTC is seen trading at $54.89 over the next five days
\nA sharp fall from its current trading price is likely to happen over the next few weeks<\/p>\nLitecoin Whale Transactions And Address Activity Up<\/strong><\/h2>\n
Will This Help Litecoin Become Bullish Again?<\/h2>\n