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Litecoin (LTC) has once again captured attention with its recent breakout above a significant technical pattern known as a falling wedge. This move, observed on July 15, has both optimism and caution among market participants as they navigate the complexities of digital asset investing.
Litecoin (LTC) as it closed above its falling wedge pattern, signaling a spike in buying pressure and a potential bullish trend. This pattern, which had constrained Litecoin's price movements since March 31, consists of two downward-sloping trend lines.
FOMO, which stands for Fear of Missing Out, is a psychological phenomenon that influences investor behavior significantly, especially in the cryptocurrency realm. This term, first introduced in 2004 and officially added to the Oxford Dictionary in 2013, describes the anxiety individuals feel about missing potential investment gains.
Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices. Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery.
Litecoin's price prediction suggests that the coin might touch $113 in the coming weeks if certain things fall into place.
Litecoin (LTC) and XRP from Ripple Labs, have recently garnered significant attention for their impressive price performances. As the crypto market continues to show signs of bullish sentiment, investors and analysts alike are keenly observing which of these coins could potentially outperform the other in the long term.
Yesterday, Litecoin (LTC) closed above its falling wedge pattern, signaling a spike in buying pressure. The altcoin had traded within this pattern since March 31.
The crypto markets have overcome the selling pressure generated by Mt. Gox's BTC transfers and the German government liquidating the seized assets. As a result, the Bitcoin price underwent a nice breakout and surged above the pivotal resistance zone, confirming a rise above the bearish captivity.
According to analytics platform Santiment, XRP and Litecoin (LTC) are currently experiencing elevated levels of fear of missing out (FOMO).
The LTC/XRP chart was consolidating inside a pattern, and a breakout could allow Litecoin to outshine XRP in the long run.
Litecoin (LTC) price recently bounced above $70 after rallying from lows of $57 reached on July 5 when a broader market downturn also saw Bitcoin dump to under $54k. This week finds BTC hovering above $63,000, with a broader uptick in crypto prices also seeing TC jump above the $71 level.
Litecoin stands out for its robust transaction capabilities, processing an impressive $2.85 billion daily in transactions exceeding $100,000. This places Litecoin at the forefront of blockchain networks handling substantial financial volumes, according to recent data from Into The Block.
Key on-chain indicators revealed that the token may not be done with its recent hike yet.
Key on-chain indicators revealed that the token may not be done with its recent hike yet.
LTC's price action surprised many, as did its outperformance of other cryptos around it.
Recent data shows a significant increase in large Litecoin transactions, with whale investors moving $2.85 billion daily.
On-chain data shows that Litecoin whales have been active recently, as the network has handled many large moves. Litecoin Large Transaction Volume Has Been At $2.85 Billion Recently According to data from the market intelligence platform IntoTheBlock, the Litecoin network has been witnessing some high activity from the whale entities recently.
Litecoin (CRYPTO: LTC) is trading higher some 12.3% to $69.10 over the trailing week amid recent, broader crypto sector strength. Several altcoins are gaining Friday, mirroring Bitcoin's roughly 2% session increase.
Since last weekend, the cryptocurrency market showcased a sluggish trend as most of the major altcoins are trading sideways following the BTC price. However, silver to Bitcoin's gold— Litecoin is defying market uncertainty to provide five consecutive green candles in the daily.
Litecoin has been under intense selling pressure in the past few months. After peaking in April, the coin has been trending lower, looking at the arrangement in the daily chart.
Litecoin's daily large transactions reach $2.85 billion, leaving Dogecoin, the OG meme coin, far behind.
The Litecoin (LTC) network has more than 9.2 million on-chain holders, and its whale activities have outshined top layer-one blockchains.
Litecoin (LTC) has witnessed superior on-chain activity compared to other prominent coins, such as Dogecoin (DOGE). Per data from IntoTheBlock, LTC processes an impressive $2.85 billion in transactions over $100,000 daily.
Litecoin (LTC) network, a veteran blockchain secured via the legendary proof-of-work (PoW) consensus mechanism, remained a favorite project among more investors. The mid-cap altcoin, with a fully diluted valuation of about $5.8 billion and a daily average traded volume of around $314 million, has more than 9.2 million on-chain holders.
