CandleFocus Litecoin Adds $1 Billion to Its Market Cap, LTHs Begin to Liquidate
2024-12-02
Author: Content Editor
Litecoin (LTC) has experienced a 15% increase in market capitalization in the past week, reaching a two-year high of $119.64. This surge has led long-term holders (LTH) to sell their coins to secure profits. However, indicators suggest that the positive momentum in the market may continue. On-chain assessments show a high number of recently moved or spent LTC coins, indicating that many long-term holders are liquidating their positions. Additionally, the Hodler Net Position Change metric confirms the trend of distribution among LTC's long-term holders. Despite the selling activity, LTC is trading above its Ichimoku Cloud, indicating a bullish trend. If this momentum continues, the price of LTC may reach $143.41, but it could drop to $107.58 if the bullish momentum fades.
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