• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Thursday, August 18, 2022
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Litecoin may be trying to pump into “deflating fundamentals” as price nears $60

10 August 2020
in Litecoin
Reading Time: 4 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


Litecoin is currently caught within a slight uptrend that has allowed it to post some large gains throughout the past few days.

Notably, LTC is currently climbing higher while Bitcoin, Ethereum, and most other major altcoins see stalling momentum. This is a sign that it is incurring technical strength that is independent of the rest of the market.

Related articles

Binance To Ban Litecoin Transactions With MimbleWimble Upgrade

17 June 2022

Why Litecoin Could Ultimately Benefit From Bitcoin’s Success

20 January 2022

While examining the on-chain factors underpinning LTC, however, it appears that there are some mixed signs with regards to this movement’s strength.

[crypto-donation-box]

Among other things, Litecoin’s daily active address count is showing signs of faltering, and its network volume is currently lagging far behind its price.

Litecoin breaks market-wide consolidation trend as it pushes towards $70

While Bitcoin is consolidating around $11,000, Litecoin is currently pushing higher, with its buyers looking to target its next resistance at $60.00.

At the time of writing, LTC is trading up over three percent at its current price of $57, which marks a notable climb from weekly lows of $44.

Chart via TradingView

Today’s upswing marks a breakout after a single-day consolidation phase, and it has allowed the crypto-asset to outperform many of its peers.

Cryptohopper
ADVERTISEMENT

These fundamental metrics may spell trouble for LTC’s ongoing upswing

There are a couple of fundamental metrics that spell trouble for Litecoin’s ongoing uptrend.

Analytics platform Santiment pointed to these in a recent blog post, explaining that daily active addresses and network activity are both flashing warning signs.

While looking towards the cryptocurrency’s network volume, it has not seen any type of notable spike despite the rising price. They conclude that this may signal that LTC is trying to “pump into deflating fundamentals.”

“While Litecoin’s price continues to rise, its network volume has yet to catch up, and trying to pump into stagnant or deflating fundamentals is rarely what you want to see in a coin.”

Litecoin dominance
Data Source: Santiment

This isn’t the only factor that may be counting against Litecoin.

Santiment data also illustrates a sharp decline in the number of addresses sending and receiving the digital asset, showing that there may not be enough investor activity to support the ongoing upswing.

While speaking about this metric, the analytics firm explained that although it’s still too early to declare a clear downtrend while looking at daily active addresses, it is something to watch closely.

“Keep an eye on Litecoin’s daily active addresses in the next couple of days – after a few strong days correlating with the price action, the amount of addresses sending or receiving LTC dropped by -15% compared to the day prior.”

Data Source: Santiment

If these metrics don’t start trending upwards in the near-term, there’s a high probability that Litecoin’s uptrend will be fleeting.

Litecoin, currently ranked #7 by market cap, is up 2.02% over the past 24 hours. LTC has a market cap of $3.7B with a 24 hour volume of $2.97B.

Litecoin Price Chart

Like what you see? Subscribe for daily updates.



Source link

Tags: deflatingfundamentalsLitecoinnearsPricepump
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Here’s Why Bitcoin Could Crush Altcoins in Coming Weeks

Next Post

“How many Ethereum in circulation?” asks the Bitcoin community

Related Posts

Binance To Ban Litecoin Transactions With MimbleWimble Upgrade

17 June 2022
0

The world’s biggest crypto exchange by volume, Binance, published blog post this morning saying they are not going to support...

Why Litecoin Could Ultimately Benefit From Bitcoin’s Success

20 January 2022
0

Litecoin as digital silver next to the thriving Bitcoin digital gold narrative has done about as well as silver has...

Litecoin Lights Up Twitter With Verified Blue Tick Badge

20 January 2022
0

Litecoin was recently verified by Twitter with a blue tick badge on their account. They also posted a tweet to...

Are The Tables Turning? Litecoin Transactions Compared To Bitcoin Are 75% And Growing

20 January 2022
0

Data compiled by @MASTERBTCLTC shows the number of Litecoin transactions is just under 75% of that of the number of...

This New Partnership Will Allow Litecoin Users To Checkout At One Of The Largest U.S. Retailers

20 January 2022
0

Newegg took to Twitter to announce that it is now integrating Litecoin payments on its e-commerce website. The integration comes...

Load More
Next Post

“How many Ethereum in circulation?” asks the Bitcoin community

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Crypto Lender Celsius’ Collapse Into Bankruptcy Should Be Probed, US Says
  • House Lawmakers Send Letters to 4 U.S. Crypto Miners Asking for Details on Environmental Impact
  • Rarible Proposes No-Fee Bored Ape NFT Marketplace for ApeCoin Users

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$45,716.00-1.31%
  • ethereumEthereum(ETH)$3,456.77-0.85%
  • tetherTether(USDT)$1.000.04%
  • binancecoinBNB(BNB)$439.95-1.61%
  • usd-coinUSD Coin(USDC)$1.00-0.21%
  • SolanaSolana(SOL)$128.84-4.73%
  • rippleXRP(XRP)$0.82-1.94%
  • TerraTerra(LUNA)$111.19-1.25%
  • cardanoCardano(ADA)$1.190.55%
  • AvalancheAvalanche(AVAX)$92.73-3.81%
  • polkadotPolkadot(DOT)$22.10-4.14%
  • dogecoinDogecoin(DOGE)$0.144901-0.44%
  • Binance USDBinance USD(BUSD)$1.000.03%
  • TerraUSDTerraUSD(UST)$1.00-0.03%
  • Shiba InuShiba Inu(SHIB)$0.000026-1.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$45,705.00-1.34%
  • CronosCronos(CRO)$0.473031-1.56%
  • matic-networkPolygon(MATIC)$1.63-2.68%
  • Lido Staked EtherLido Staked Ether(STETH)$3,455.57-0.80%
  • NEAR ProtocolNEAR Protocol(NEAR)$15.62-3.50%
  • daiDai(DAI)$1.00-0.09%
  • cosmosCosmos Hub(ATOM)$30.76-3.98%
  • litecoinLitecoin(LTC)$123.39-2.73%
  • chainlinkChainlink(LINK)$17.14-5.68%
  • tronTRON(TRX)$0.069912-3.60%
  • bitcoin-cashBitcoin Cash(BCH)$370.86-0.90%
  • FTX TokenFTX Token(FTT)$49.41-1.74%
  • ethereum-classicEthereum Classic(ETC)$45.69-1.36%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • algorandAlgorand(ALGO)$0.88-4.27%
  • stellarStellar(XLM)$0.231372-0.55%
  • leo-tokenLEO Token(LEO)$5.95-0.02%
  • OKBOKB(OKB)$20.68-0.82%
  • UniswapUniswap(UNI)$11.31-3.17%
  • vechainVeChain(VET)$0.076890-1.96%
  • Axie InfinityAxie Infinity(AXS)$63.07-4.37%
  • HederaHedera(HBAR)$0.235142-4.16%
  • Internet ComputerInternet Computer(ICP)$21.47-0.24%
  • filecoinFilecoin(FIL)$24.44-2.18%
  • ElrondElrond(EGLD)$189.04-2.56%
  • decentralandDecentraland(MANA)$2.61-2.92%
  • The SandboxThe Sandbox(SAND)$3.40-2.47%
  • FantomFantom(FTM)$1.52-3.28%
  • moneroMonero(XMR)$214.53-0.30%
  • wavesWaves(WAVES)$37.59-24.48%
  • theta-tokenTheta Network(THETA)$3.76-6.47%
  • cETHcETH(CETH)$69.26-1.11%
  • tezosTezos(XTZ)$3.80-4.12%
  • ApeCoinApeCoin(APE)$11.60-3.99%
  • The GraphThe Graph(GRT)$0.480061-4.90%