Skip to content
- Litecoin has dropped 13.20% but remains stable as long-term holders stay confident, signaling a possible buying opportunity.
- Litecoin’s MVRV ratio suggests accumulation, with potential price targets of $108 and $117 if bullish momentum strengthens.
- If LTC drop below $100, bearish pressure could push it to $85, where past demand has led to strong price rebounds.
Litecoin has been down rather significantly in the past week, it’s down by 13.20%. This decline has impacted on investors since the new trend was emerging at a time when Litecoin had proved quite stable compared to Bitcoin. However, experts are still optimistic that the token can recover, and this is the reason why it is still in existence.
Ali Martinez revealed in a recent X post that LTC has remained bullish throughout the current year and the current shifts in the market are nothing new to the asset. He highlights the Market Value to Realized Value (MVRV) ratio that is working in ascertaining the market value of an asset compare to its real value. Low value to realized value ratio implies that the holders are likely to hold rather than selling and therefore, it may be a buying opportunity.
Litecoin’s Bullish Resilience
The MVRV ratio of Litecoin still remains at a normal state even after the critical support level of $100 . Holders with long-term objectives have not sold their investments to the market, more so during moments that are considered crucial as to the future of the asset. Litecoin is also in potentially of creating a bullish pattern to the upside as it may look to reach $108 and possibly $117 in the near term.
As of press time, LTC is trading at $105.93. Lack of upward pressure on the price might, therefore see Litecoin depreciate to the next support level of $85, which has been a significant point of demand.
Source: TradingView
Potential Reversal Ahead
The Relative Strength Index (RSI) is 40.24 currently which is a sign of near oversold levels in Litecoin. A reversal might be seen in the increase of buying at important support structures while the traders remain bearish.
Some are hopeful that there are still prospects for Litecoin ETF that would increase its use in the market. However, before that happens some macro events such as the White House crypto summit and the U.S. Non-Farm Payrolls (NFP) will most probably impact the market sentiment. These factors can either support a recovery or push prices down depending on how the other broader markets are performing.
