Litecoin (LTC) has experienced a remarkable 13% surge in less than 24 hours, signaling a potential rally following a recent 20% correction. The altcoin had been losing some of its recent gains, but this fresh momentum is bringing renewed optimism to the market. Investors are now eyeing whether LTC can maintain its upward trajectory and reach new highs in the coming days.
A key factor driving LTC’s momentum is the noticeable increase in whale activity. According to data from IntoTheBlock, large transactions involving LTC surged by 7% over the past 24 hours. This surge in whale interest often signals a shift in market sentiment, particularly from institutional investors and high-net-worth individuals, which can be a bullish indicator for the altcoin.
Moreover, other on-chain metrics suggest that LTC is building a solid foundation for further price growth. Currently, 72% of LTC addresses are in profit, reinforcing the positive outlook. This widespread profitability means that many holders are likely to stay invested, avoiding selling at a loss, and further fueling the bullish sentiment.
As LTC gains traction, attention is turning to whether it can break the $150 psychological level. A rally beyond this threshold could further cement LTC’s upward momentum, especially with the combination of increased whale activity and strong holder profitability. However, broader market conditions will play a crucial role in determining the future of this rally. Since LTC’s price often correlates with Bitcoin’s movements, any bearish trends in the broader cryptocurrency market could impact its potential for sustained growth.
Also Read: Litecoin (LTC) Miners Intensify Selling Pressure: Key On-Chain Data and Market Implications
LTC’s 13% surge has rekindled investor confidence, with key indicators pointing to a potential rally. While the altcoin’s fate remains tied to the broader market, the growing whale activity and profitable addresses suggest that LTC may be poised for a breakout in the near future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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