{"id":540910,"date":"2023-07-03T19:00:16","date_gmt":"2023-07-03T19:00:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=540910"},"modified":"2023-07-03T14:59:30","modified_gmt":"2023-07-03T14:59:30","slug":"crypto-analyst-sheds-light-on-litecoin-next-possible-price-move","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin\/crypto-analyst-sheds-light-on-litecoin-next-possible-price-move\/","title":{"rendered":"Crypto Analyst Sheds Light On Litecoin Next Possible Price Move"},"content":{"rendered":"
In a market of ever-changing dynamics, Litecoin (LTC), one of the top-performing cryptocurrencies, is caught in an interesting situation. The digital asset’s price direction has recently been the subject of analysis by a renowned crypto expert, Ali, who is well-known for his crypto predictions and insights. <\/span><\/p>\n His analysis, drawn from a key market indicator, the Market Value to Realized Value (MVRV) ratio, may shed light on Litecoin’s immediate future.<\/span><\/p>\n Ali\u2019s forecast<\/a> derives from the 30-day MVRV for Litecoin, which presently stands at around 35%. This metric serves as an instrument for tracking the disparity between the market value and realized the value of the digital asset.<\/span><\/p>\n Related Reading: Litecoin Up 18% In Past 24 Hours, Is Halving Rally Here?<\/a><\/p>\n Ali’s recent observation adds a significant dimension to the market’s perception of Litecoin<\/a>, suggesting that history might be gearing up to repeat itself.<\/span><\/p>\n As Ali highlighted in a recent tweet, Litecoin\u2019s<\/a> history since 2018 shows a distinctive pattern. Whenever the 30-day MVRV exceeds the 30% threshold, a sharp price correction ensues. Such corrections have typically led to a decline in LTC’s price ranging from 30% to 40%. This pattern has persisted over the years and lends credence to Ali’s prediction about a possible downturn.<\/span><\/p>\n Currently, #Litecoin<\/a> MVRV 30D hovers around 35%.<\/p>\n Historically, each time $LTC<\/a> MVRV 30D exceeds the 30% mark since 2018, a sharp price correction typically follows! This usually translates to a #LTC<\/a> price drop ranging from 30% to 40%. pic.twitter.com\/R5oMMaKWGc<\/a><\/p>\n \u2014 Ali (@ali_charts) July 2, 2023<\/a><\/p><\/blockquote>\n The rationale behind this is straightforward. When the MVRV ratio is high, it indicates that holders have accrued significant profits and may decide to sell, resulting in a price drop. However, it\u2019s important to remember that while historical trends provide an indication, they are not a guaranteed predictor of future events.<\/span><\/p>\n On June 30, Litecoin experienced a significant price hike<\/a>, recording a sizeable green candlestick. This surge propelled LTC to the high of $109 at the time of writing, reflecting a nearly 24% increase over the last seven days.<\/span><\/p>\nThe History Of Litecoin MVRV And Price Corrections<\/span><\/h2>\n
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LTC Latest Price Action<\/h2>\n