Ethereum

Flow

Litecoin

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Despite high network activity, Litecoin (LTC) has seen a nearly 15% price decline in the last 30 days.</li> 
 <li>LTC’s price decline may continue, despite it outperforming Bitcoin (BTC) and Ethereum (ETH) in terms of active addresses.</li> 
</ul> 
<p> Litecoin (LTC) has failed to generate profits for investors as its price continues to slide, despite it outpacing other top 30 cryptocurrencies in certain areas. </p> 
<h2 id="ltc-outperforms-btc-and-eth">LTC Outperforms BTC and ETH</h2> 
<p>Interestingly, Litecoin has surpassed both <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> and <a href="https://coineagle.com/price/ethereum/">Ethereum (ETH)</a> in terms of active addresses, suggesting a rise in adoption and network usage. </p> 
<p>This was confirmed by data from Santiment, which showed that Litecoin’s daily active addresses remained high over the past month, peaking at over 858k on June 6th. </p> 
<h2 id="ltc-price-struggles">LTC Price Struggles</h2> 
<p>Despite the positive network activity, LTC’s price has not followed suit. Data from CoinMarketCap reveals a nearly 15% drop in LTC’s price over the past 30 days. </p> 
<p>At the time of writing, LTC was trading at $70.61 with a market capitalization of over $5.27 billion, ranking it as the 22nd largest cryptocurrency. </p> 
<p>Data from Glassnode indicates a potential for further price decline, with an increase in LTC’s NVT ratio suggesting that the asset may be overvalued. </p> 
<p>Further analysis of LTC’s daily chart indicates a bearish trend, with indicators such as the MACD and the Chaikin Money Flow suggesting a continued price decline. </p> 
<p>Despite this, LTC’s price has reached the lower limit of the Bollinger Bands, suggesting a possible recovery in the near future. </p> 
<p>Hyblock Capital’s data suggests that if the price decline continues, LTC could drop to $67. However, a trend reversal could see LTC aiming for $81.4 as the first step towards recovery. </p>

Litecoin Outperforms Bitcoin and Ethereum in Usage: Decoding the Continued Bearish Trend for LTC

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CoinEagle.com

Alte articole publicate pe 27 iun. 2024

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