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Litecoin (LTC), despite being a well-established name in the cryptocurrency world, trades at lower levels compared to others in terms of market value. Past performance may show that LTC is more stable than other major cryptocurrencies like Ethereum (ETH) and even Bitcoin (BTC), but this often does not prevent it from being a favorite among investors.
Litecoin May Surprise in This Bull Market
Experts do not frequently mention or analyze LTC in their recommendations and sometimes even mock it. However, data shows that Litecoin has strong potential in this bull market. Now, let’s examine these potentials in more detail.
When we look at LTC’s trading chart, we observe that the RSI is at low levels. This indicates that Litecoin is currently undervalued. This situation may offer an attractive opportunity for investors or traders who trust its fundamentals and long-term prospects.
Additionally, convergence is observed in the MACD. This development means that the short-term moving average is crossing above the long-term average. This carries signs of a potential rise for the underestimated altcoin by increasing the upward momentum.
Currently, LTC’s value is hovering around $88. Throughout the past month, $77 has emerged as a significant support level, and the price has returned to this level several times. This is seen as a strong psychological and technical support zone. However, Litecoin has not fallen below this support since February and has shown resilience even when Bitcoin and Ethereum were declining. If the $88 level is surpassed, it may indicate that LTC could move towards the $90 target in the short term.
Are LTC Investors Waking Up?
It seems that the time has come for the whales to wake up for Litecoin. Recent data shows that as of May 10, whales have accumulated approximately three million LTC coins worth over $900,000. This is an exciting development in terms of LTC’s activity.
Historically, we see that LTC follows a certain cycle. Prices usually remain stable until about 4-5 months after the Bitcoin halving and then start to rise. Therefore, if this pattern continues, we can expect the price to rise towards the end of the third quarter of this year.
The whales’ purchases have reignited discussions about LTC in the crypto community on X. However, the data tells us more than social sentiment. Examining historical patterns suggests that LTC could rise rapidly from August or September onwards.
