Litecoin

Reversal

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/altcoin/litecoin-flashes-signs-of-bullish-reversal-amid-selling-sentiment-whats-the-next-ltc-price-move/">Litecoin Flashes Signs of Bullish Reversal Amid Selling Sentiment: What’s the Next LTC Price Move?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
In a trading environment where a bearish outlook has taken center stage, leading to heavy asset liquidation every hour, <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/" rel="noopener noreferrer nofollow">Litecoin (LTC)</a> is capturing attention for all the right reasons. As traders prepare for another wave of selling pressure following tomorrow’s highly awaited court approval that will enable <a href="https://coinpedia.org/news/will-ftxs-3-4-billion-selloff-on-september-13-be-a-tipping-point-for-solana-and-the-crypto-market/" rel="noopener noreferrer nofollow">FTX to offload its $3.4 billion</a> in cryptocurrency holdings, Litecoin flashes promising signs. The LTC price is signaling a potential bullish reversal, backed by encouraging on-chain data.&nbsp; 
<h2 id="litecoins-long-term-holders-gain-confidence" data-name="litecoins-long-term-holders-gain-confidence" class="wp-block-heading">Litecoin’s Long-Term Holders Gain Confidence&nbsp;</h2> 
The altcoin market is currently facing concerns of a significant selloff starting tomorrow if FTX gets court approval to liquidate its crypto stash. However, LTC price has been on a recovery trend after breaking below the crucial support of $60.&nbsp; 
The health and demand of the LTC token have been bullish, as revealed by IntoTheBlock’s data. The long-term holders are bullish on Litecoin’s future trajectory as the addresses holding Litecoin above one year have touched an all-time high. The metric has been surging exponentially since June, and it has now touched the 5.02 million mark.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/jYSabgTR_j-OmMFHsJD_ikj-WKD-IO4fHHnP9THmSprY1VlPT7a1dgMLBw_Z_zDExiHc5hbAZt5ie1Xjt1C_Tsslz7oLGuFGBGmvs_AUlBo2IpQxYjxl8VEd0JRK3mwPZuw20A8fficFmQP1XnPiGHU" alt=""> 
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The number of addresses has grown by 602,000 since Litecoin’s 2023 peak price of $114.5 on July 2. In the same timeframe, these addresses have also seen a rise in their Litecoin holdings by 3.2 million LTC. 
This suggests that even amidst the declining price, a significant number of current network users continue to have faith in Litecoin’s long-term potential.&nbsp; 
Moreover, whales with Litecoin balances ranging from 10,000 to 100 million LTC are displaying signs of optimism. According to data from Santiment, these large holders have paused their week-long selling spree and bought 40,000 LTC in the price dip in the past two days. At the current price of around $60 per coin, these new purchases amount to an estimated value of $2.4 million.&nbsp; 
<h2 id="whats-next-for-ltc-price" data-name="whats-next-for-ltc-price" class="wp-block-heading">What’s Next For LTC Price?</h2> 
Litecoin price witnessed a rebound in the last few hours as buyers created a buying sentiment near the dip of $57. LTC price surged toward the 20-day Exponential Moving Average (EMA) at $60.8 but failed to break through, indicating strong resistance from bearish traders at this level. As of writing, LTC price is trading at $60.48, surging over 1.8% from yesterday’s rate.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/9Rz5XEXMkVJLSjFpz5lYbCFv3igAx3qj5sxqa2uem0oP06LOJH-JCIQdNWkAieI90LKKk-REfv0tHtnfCiRuvCyRASnArct8Y8PkBxWeF13AiGMUzAcXYmPHC5F9FOE-Hw7Rmgjm9ZlH7Noibe6yVBw" alt=""> 
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As bears failed to breach the key support level at $53, it suggests that sell-off pressure fades at these lower prices. The Relative Strength Index (RSI) appears to be forming a positive divergence as it heads toward the midline, signaling weakening selling momentum. 
A significant bullish indicator would be a successful break and closing above the 20-day EMA, paving the way for a more robust recovery toward $65. Further surge might take the price toward $76.&nbsp; 
Conversely, if the support at $53 gives way, the LTC price could enter a downward trajectory. In this case, we might see the price dropping to the crucial $47 level.&nbsp;

Litecoin Flashes Signs of Bullish Reversal Amid Selling Sentiment: What’s the Next LTC Price Move?

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