Litecoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/litecoin-price-slightly-rises" data-wpel-link="internal" rel="noopener noreferrer nofollow">Litecoin Price Slightly Rises</a><br></p>
<p style="text-align: justify">Over the past week, Litecoin (LTC) has seen a price increase of 2.18%, currently trading at $73.22. However, this gain might be short-lived due to potential sell orders in the exchange order books. On-chain data from IntoTheBlock indicates that demand for LTC outpaces supply, which could affect future price movements.</p>
<h2 id="why-is-supply-lower">Why Is Supply Lower?</h2>
<p style="text-align: justify">The <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> a significant difference between the amount of LTC available for sale and the demand. Approximately 928,200 coins, worth around $70 million, are set to be sold if Litecoin reaches $74.65. This imbalance could trigger a price decline, with possible targets around $72 and $70.</p>
<h2 id="what-do-price-indicators-show">What Do Price Indicators Show?</h2>
<p style="text-align: justify">The Network Value to Transaction (NVT) ratio supports this potential decline. The NVT ratio links <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> value with transaction volume, with a rising ratio indicating an overvalued network. If volume surpasses market value, the ratio decreases, signaling an undervalued state.</p>
<h2 id="investor-takeaways">Investor Takeaways</h2>
<p style="text-align: justify">– Monitor the $74.65 price level for potential sell-offs.<br>– Watch the NVT ratio for signs of overvaluation or undervaluation.<br>– Pay attention to the MVRV ratio to gauge profit-taking behavior among LTC holders.</p>
<p style="text-align: justify">According to Glassnode, Litecoin’s NVT ratio is on the rise, suggesting overvaluation. Coupled with the declining activity in the network, a short-term price drop is likely. The MVRV ratio, which considers market versus realized value, further supports this outlook. Currently, LTC’s 30-day MVRV ratio is 14.10%, indicating potential profit-taking if holders sell.</p>
<p style="text-align: justify">While the week’s beginning was positive for cryptocurrencies, including Litecoin, negative metrics and a drop in <a href="https://en.bitcoinhaber.net/robert-kiyosaki-recommends-bitcoin-investments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> prices to around $60,000 have shifted the outlook. Decreased network activity implies reduced demand for LTC, though a market upturn could reverse this trend and push prices higher.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/litecoin-price-slightly-rises" data-wpel-link="internal" rel="noopener noreferrer nofollow">Litecoin Price Slightly Rises</a></h5>

Litecoin Price Slightly Rises

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