The price of LiteCoin could be crashed even while whales are growing

The price of LiteCoin this year collapsed to the bear market, and techniques suggest that there are more Sundays to go even how the detergent activity increases.

Litecoin (LTC) It traded $ 93.80 on Friday, from 36% of its highest level this year and just above this month low from $ 83.33.

Metrics on the chain paint a mixed image of Litekoin. On the positive side, the total owner amount held stable in 8.6 million in the last few days.

The number of whale transactions online also rose this week. Whale transactions jumped to 227 on Friday, more than 167 earlier in the week. This suggests that sophisticated investors buy a coin, predicting the price jump.

Another key metric is 365 days invested an age that estimates how long the coins remained in their current address and calculates the average money age that used to use it. Litecoin’s MDIA indicator rose to 600, more than 500 earlier this year – a sign of increasing the accumulation of the holder.

The probable reason of this whale and user accumulation is that investors predict that the coin will bounce if SEC approves a Spot LTC ETF. It also happens as if investors are theorized that Litecoin is inexpensive, given that SCs at the market value of realized value or MVRV has occurred at the lowest level in months. The folding indicator of the MVRV is a sign that the means is cheap.

Technical analysis of LiteCoin price

The daily shows that LTC died below critical support at $ 112.50, the highest swing in March 2024. Years. Litecoin formed a sample on the rise of a wedge, consisting of two ascending and convergent trendline. She also created a flag bear pattern, which is a popular sign for continuation.

Litecoin further formed a hand pattern mini, such as a 50-day movement movement in transition. This increases the probability for a bear breakdown despite encouraging metrics on the chain. If this happens, the key level to view will be $ 80, its lowest point 2025. Years.