Litecoin Price Trends

• 78% of Litecoin addresses have held their LTC for over a year.
• LTC has declined by 11.09% over the past 24 hours.

Since hitting a recent high of $147 two weeks ago, Litecoin (LTC) has struggled to maintain upward momentum.

The past 24 hours have seen the highest drop for the altcoin, hitting a low of $94. At the time of writing, Litecoin was trading at $96, marking an 11.09% decline on daily charts. Additionally, the altcoin has decreased by 20.12% over the past week.

Despite this dip in price, LTC’s long-term holders remain optimistic and expect further gains.

78% of Litecoin Long-Term Addresses Remain Bullish

According to IntoTheBlock, 78% of Litecoin addresses have held their LTC for over a year. These addresses have been accumulating during bear markets and selling near peak prices.

While previous cycles have seen an increase in long-term holdings being sold, this cycle is different. LTC has experienced a slight drop in long-term holdings, but this reduction is less pronounced compared to previous cycles, indicating fewer long-term holders are selling during this bull market.

Many holders are anticipating further price growth as they await the peak in the current cycle, signaling optimism among long-term holders.

What LTC Charts Suggest

While long-term holders are selling less compared to earlier cycles and remain optimistic, the overall market sentiment is bearish. Most investors are taking short positions, with Coinglass showing a long/short ratio that indicates shorts dominate the market, suggesting that traders expect prices to decline.

Furthermore, large holders are also bearish, reducing their capital inflow into LTC. The net flow from large holders has fallen from 384.52k to 21.89k, implying outflow has surpassed inflow for four consecutive days. Sellers have dominated the market over the past twelve days, as evidenced by a sustained decline in the Relative Strength Index (RSI), which has dropped from 71 to 40, nearing oversold territory.

Read Litecoin’s [LTC] Price Prediction 2024–2025

In conclusion, while long-term holders are optimistic, retail traders are not. The market is experiencing short-term negative sentiment, and if this persists, LTC could drop to $91.47. However, if the bullishness of long-term holders spreads, LTC may reclaim the $100 levels.