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Litecoin Whales Sold Coins Worth $27M In August: Is LTC Price in Danger?

beincrypto.com

Litecoin (LTC) price has stagnated within the $65 – $68 territory after failing to break above $70 during the mild price bounce earlier this week. With whale investors now closing their positions, on-chain analysis explores LTC price prospects for the coming weeks.

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Bitcoin LTC
$ 80.96

Timeline of Litecoin


Why Litecoin (LTC) Price Might Stay Below $100 Amid Crypto Market Rebound - BeInCrypto

Last week, Litecoin (LTC) slid to a 2023 bottom of $56, culminating in a third consecutive post-halving crash. Can Grayscale's landmark victory propel Litecoin price toward reclaiming the post-halving losses?


LTC short sellers can watch out for a bounce to this resistance level - AMBCrypto

The mean coin age of LTC has been climbing higher since late June. Even after the recent losses in the price, this metric continued to climb higher, which signaled a network-wide accumulation of Litecoin.


Grayscale's Win Breathes Life Into Litecoin, Post-Halving Rally On? - NewsBTC

In a refreshing ruling on August 29, the United States District of Columbia Court of Appeals said the stringent Securities and Exchange Commission (SEC) was, after all, wrong in denying Grayscale to convert their over-the-counter (OTC) Bitcoin Trust (GBTC) into a Bitcoin spot exchange-traded fund (ETF). The regulator had previously barred the conversion of the GBTC to an ETF, citing an alleged absence of measures to prevent price manipulation, forcing Grayscale to sue.


Litecoin might resume the downtrend after a minor bounce, here's why - AMBCrypto

There was an FVG on the H4 chart that extended from $65.97 to $72.79 that Litecoin left behind during its rapid descent on 17 August. Therefore, a bounce to $72 was possible to fill this gap.


Can the Litecoin (LTC) Price Hit $100 Again in 2023 Following Post-Halving Sell-Off? - BeInCrypto

Litecoin (LTC) price hit a third consecutive post-halving crash when it tumbled 24% on August 17, dropping to a 2023 low of $56. Historical on-chain data provides insights into how Litecoin investors reacted to similar price crashes in the past.


Litecoin Price Plunges To Sub-$70 Territory – What Traders Should Expect - NewsBTC

Litecoin (LTC), the altcoin often dubbed as “silver to Bitcoin's gold,” has found itself caught in the downward spiral of the cryptocurrency market, mirroring the struggles of its larger counterpart. While LTC's association with Bitcoin has long been a double-edged sword, the recent price crash is putting on the spotlight the intricate interplay between these digital assets.


Biggest Movers: LTC, XRP Plunge 15% Lower on Friday - Bitcoin

Litecoin was one of the notable movers during Friday's crypto blood bath, as markets reacted to speculation that Spacex had sold over $370 million in bitcoin. Today's sell-off saw the global market cap fall by roughly 6.20%, at the time of writing. XRP also fell significantly.


Shiba Inu (SHIB) Market Capitalization Flips Litecoin (LTC) - BeInCrypto

Shiba Inu (SHIB) has leapfrogged Litecoin (LTC) on the cryptocurrency rankings following the market shake-up on Thursday. While SHIB held firm at the $0.000008 support, Litecoin (LTC) hit a yearly low of $56, taking its market capitalization below $5 billion in the process.


Litecoin (LTC) Shows Bearish Signs: Here Are the Reasons Why Price Could Reach $65 - BeInCrypto

The Litecoin (LTC) price has hovered within the $81 – $85 range over the past week. A closer look at the underlying on-chain data analyzes the plausibility of bearish predictions that LTC prices may sink below $65 in the coming weeks.


Litecoin Flashing Bullish Signal As Whales and Sharks Accumulate LTC, Says Santiment – But There's a Catch - The Daily Hodl

Crypto analytics platform Santiment says that Litecoin (LTC) is flashing bullish after its August 2nd halving event. In a new video strategy session, Santiment's director of marketing Brian Quinlivan says that it appears the peer-to-peer payments network is forming a bullish divergence as sharks and whales continue to accumulate LTC as price dips.

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