Litecoin

when

<ul>
 <li>Litecoin (LTC) recently surged past $100 but quickly corrected back to $95.</li>
 <li>Over 351,000 frustrated investors bought LTC between $94 and $101.</li>
 <li>Despite setbacks, long-term holders remain confident, with recent trends showing a shift of nearly 2 million LTC to mid-term holders.</li>
</ul>
<a href="https://thenewscrypto.com/?s=Litecoin" target="_blank" rel="noopener noreferrer nofollow">Litecoin</a> (LTC), often referred to as the silver to Bitcoin’s gold, has recently experienced a significant price surge, rising from $68 to briefly crossing the $100 mark. However, this milestone was short-lived, as the cryptocurrency quickly corrected, bringing LTC back down to $95. As investors closely monitor the market, the question remains: Can Litecoin climb back up and sustain its position above $100?
The recent price fluctuations have left nearly 351,000 Litecoin investors frustrated, as they have been waiting for LTC to cross the $100 threshold for nearly ten months.
<figure class="wp-block-image size-full"><img decoding="async" width="850" height="259" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-98.png" alt="Litecoin" class="wp-image-93752" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-98.png 850w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-98-300x91.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-98-768x234.png 768w" sizes="(max-width: 850px) 100vw, 850px">
</figure>
These investors purchased their LTC when the cryptocurrency was trading between $94 and $101, and the recent decline has reset their losses. Approximately 3.96 million LTC, worth nearly $400 million, is currently stuck in limbo due to Litecoin’s unstable price.
<h2 class="wp-block-heading" id="h-investor-conviction-and-litecoin-holding-patterns-nbsp">Investor Conviction and Litecoin Holding Patterns&nbsp;</h2>
Despite the setbacks, Litecoin investors are demonstrating strong conviction and a willingness to await profitable opportunities during this bull run. Long-term holders, also referred to as Hodlers, have been holding their assets for more than a year and control the majority of the LTC supply. This indicates a level of confidence in Litecoin’s long-term potential.
Interestingly, there has been a notable supply transfer from short-term holders (traders) to mid-term holders (cruisers) in the last three days. Cruisers tend to hold their LTC for between one month and a year, suggesting they are less likely to sell immediately. Nearly 2 million LTC, worth $190 million, have moved into the wallets of cruisers, signaling a positive development for Litecoin’s price stability.
<figure class="wp-block-image size-full"><img decoding="async" width="850" height="373" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-99.png" alt="" class="wp-image-93753" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-99.png 850w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-99-300x132.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-99-768x337.png 768w" sizes="(max-width: 850px) 100vw, 850px">
</figure>
If the previously discussed investor behavior and market conditions influence Litecoin’s price movement, LTC could potentially recover from its present price of $94. A recovery would likely initiate a price increase, and surpassing the $104 level would render the $400 million supply profitable for investors who acquired LTC within the $94 to $101 range.
Converting the $100 level into a support floor could establish a robust base for Litecoin’s continued development. However, an unsuccessful breach or profit-taking by investors might cause the altcoin to retrace. Losing the $96 level would potentially reignite bearish sentiment, and a decline to $90 would negate the bullish outlook.

Litecoin’s Price Rally: Will LTC Reclaim and Sustain $100?

Table of Contents

TheNewsCrypto

Other articles published on Mar 15, 2024

Milei Moneda Presale Beckons With Promising Potential Amid Continued Gains On PEPE And SHIB

Investors shift away from Bitcoin mining stocks as spot ETFs open new avenue, Luxor says

Shiba Inu Whale Dumps 1 Tln SHIB As Price Takes Bearish Turn, What’s Next?

The Evolution and Challenges of Conversational AI: A Critical Analysis

Aspyr’s Struggle with Star Wars Game Releases

Binance Intensifies Protection with Stricter Asset Listing Protocols

Join our free newsletter for daily crypto updates!