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?

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TheNewsCrypto

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