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The declining price pattern for the majority of the cryptocurrency sector has finally slowed down after months filled with challenges that prevented the repetition of its 2021 success, including for Litecoin (LTC).
Litecoin continues its positive run amid the crypto market crisis, as whale accumulation has increased LTC prices in recent weeks.
On-chain data shows the Litecoin “mega whales” now hold around 15.4% of the total supply, the highest value in more than five years.
Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October's reading of 7.7%.
Litecoin (LTC) has been moving upwards since November 23. The high at $84 has slowed down the upward movement.
The crypto space appears pretty bullish as the Bitcoin price gained some strength and raised notably to reach the target of $17,500. Meanwhile, Litecoin, which is also called a Lite version of Bitcoin also appears to be poised to kick off a firm bull rally very soon.
Analytics firm Santiment says crypto whales have spent the most recent portion of the bear market gobbling up the peer-to-peer payments network Litecoin (LTC). Santiment notes that Litecoin addresses that own more than one million LTC are holding their highest level of available LTC supply since June 2017. Those so-called “mega whales” have accumulated 2.
Litecoin might be on verge of long-term reversal thanks to this fundamental signal
Litecoin price analysis reveals the LTC/USD is highly bullish today as it receives exceptional positive sentiment from the market. The bulls are on the march towards attempting a new record high as the price has already reached $76.56, and the all-time high happens to be at $77.
Litecoin has maintained decentralized operations throughout Though LTC is bearish right now, metrics seem bullish The Litecoin [LTC] Foundation took every chance to highlight why LTC was a superior cryptocurrency. This included all the Black Swan instances that occurred in 2020.
CPI report and FOMC interest rate decision expected this week could see BTC and LTC either rally or crash. Analysts believe that there is more likelihood of a year-end rally for the market based on previous Fed comments.
A closely followed crypto analyst says that peer-to-peer payments network Litecoin (LTC) continues to look bullish despite its sideways price action over the last few weeks. In a new video update, pseudonymous crypto trader DonAlt says that Litecoin may just be gearing up for its next leg up against Bitcoin (LTC/BTC).
Litecoin whales with more than one million LTC have added 2.95 million more to their holdings The LTC lifespan remains in excellent condition even though circulation waned According to Santiment, at press time, Litecoin [LTC] whales were unmoved by the rough patch that hit the crypto market.
Litecoin LTC/USD has advanced from $54.49 to $84.97 since the beginning of November 2022, and the current price stands at $74.97.
While biggest whales keep acquiring LTC, this analyst issues bearish warning for Litecoin
Whales appear to be stepping up their purchase of Litecoin. From early November, they have acquired 2.96 million LTC valued at over $220 million.
The weekends have proven more impactful in recent times as the trend has been reversing significantly over time. The star crypto, Bitcoin, and some of the popular altcoins have been displaying a potential long case.
Bitcoin price aims for support at $17,000, while LTC follows a pre-halving narrative and ETH looks somewhat bullish in its BTC pair.
A widely followed crypto analyst is predicting rallies for a handful of altcoins, including the leading smart contract platform Ethereum (ETH) and one of its primary competitors.
Bitcoin and most major altcoins remain stuck inside a range as traders keep a close eye on next week's macroeconomic events.
This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Litecoin. Ethereum (ETH) In the past week, Ethereum consolidated its price above the key support at $1,240 by moving sideways, which did not allow it to diverge much compared to seven days ago.
Litecoin (LTC) seemingly hit a speed bump that caused its bullish run to slow down a bit after it rallied all the way up to the $83 zone on December 5. The following day, the cryptocurrency closed the trading session with a trading price below the $80 marker before reclaiming said territory on December 7.
Litecoin turns out to be a preferred mode of payment for BitPay users. The reading of LTC's MVRV ratio may put some pressure on long-term holders.
Litecoin price analysis is going through a loss as the price underwent a decline up to $75.57 today. The downtrend has been quite constant for the last 14 hours, with the price dropping from a high of $77.18 to its current level of $75.74.
