Altcoins News
By Evie Vavasseur
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Litecoin (LTC) is showing renewed strength after shaking off weeks of bearish pressure, as the altcoin surged over 6.5% in the past 24 hours to hit a three-month high.
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This upswing came with a notable boost in trading volume, which rose by 31% to reach over $509.5 million.
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The bullish price action is not happening in isolation. On-chain data reveals a clear trend of accumulation among investors.
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This pattern becomes even more pronounced among large holders, or whales. Netflows from large LTC holders to exchanges have decreased sharply in recent weeks, reinforcing the…
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At the same time, Litecoin's stock-to-flow ratio—a key measure of scarcity—has spiked to 306.
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Technical indicators also support the bullish case for Litecoin. For much of the past month, LTC had been trading inside an ascending price pattern within a broader descending…
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Further confirming the strong upward momentum is Litecoin's Moving Average Convergence Divergence (MACD) indicator, which has been rising steadily since a bullish crossover two…
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With a successful retest of the breakout zone, analysts suggest Litecoin could push toward the next significant resistance level at $96.
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However, not all scenarios are bullish. If bulls fail to hold the breakout and Litecoin’s price falls back below the retest level, the asset could retreat to $83, where it…
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Still, with whale accumulation on the rise, trading volume climbing, and scarcity intensifying, Litecoin appears better positioned than it has been in months.
The Currency Analytics
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