COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Investors React to Litecoin’s Recent Price Drop
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Litecoin (LTC) > Investors React to Litecoin’s Recent Price Drop
Litecoin (LTC)

Investors React to Litecoin’s Recent Price Drop

In Brief

  • Litecoin's price dropped 30% in early April.

  • Investors might exit before further losses increase.

  • Price could drop to $80 if it follows the current path.

COINTURK NEWS
COINTURK NEWS 12 months ago
Share
SHARE

Litecoin’s (LTC) price and investors have calmed down due to a 30% drop observed at the beginning of April. However, before the altcoin can recover, investors might be choosing a different downward path.

Contents
Downward Momentum in LTCPrice Prediction for LTC

Downward Momentum in LTC

The popular altcoin Litecoin’s price is struggling to recover after the correction at the beginning of April, as indicated by the lack of profit recorded across the network. Since recovery might take some time, LTC holders might want to exit before their losses increase. This situation can be observed in the market value to realized value (MVRV) ratio, which evaluates the investor’s profit or loss. Litecoin’s 30-day MVRV is currently at 11%, indicating profit and potentially leading to sales. Historically, LTC corrections occur when the MVRV is in the danger zone, known to be between 10% and 24%.

Secondly, the change in investor behavior aligns with market sentiment observable in the relative strength index (RSI). The RSI is a momentum oscillator that measures the speed and change of price movements on a scale of 0 to 100. An RSI above 70 indicates overbought conditions, while an RSI below 30 indicates oversold conditions. Although LTC is not overbought, it is still below the neutral line of 50. Holding this line as a support base can be considered a bullish sign. However, Litecoin may not be suitable for this in the near future.

Price Prediction for LTC

Litecoin’s price is struggling to rise above $90, which could turn the 38.2% Fibonacci retracement into support. However, even worse, LTC has fallen below the 23.6% fib line. This Fib level is known as the bear market support base, and maintaining above it can be considered a bullish sign. However, a drop below this level could signal a decline. If Litecoin’s price follows this path, a drop to $80 could be observed.

However, if broader market signals change and Litecoin’s price starts to rise, it could reclaim the 23.6% fib line as support. This situation could re-trigger the recovery, and surpassing $90 could invalidate the bearish thesis.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Bitcoin Holds Its Ground as SEC Keeps Crypto Community in Suspense

Market Movements Highlight Litecoin’s Potential for Growth

Litecoin Surges as Market Corrects: Bright Prospects Ahead

Canary Capital’s Litecoin ETF Gains Momentum with DTCC Listing

Litecoin Stands Out as Other Cryptos Struggle in February 2025

COINTURK NEWS 30 May, 2024 - 8:40 pm 30 May, 2024 - 8:40 pm
Share This Article
Facebook Twitter
Share
Previous Article Bitcoin Faces Resistance After Recent Surge
Next Article Cardano Surpasses Toncoin and Shiba Inu in Market Value
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Discover Why Solana Might Lag Behind Ethereum in the Coming Years
Solana (SOL)
Nasdaq Introduces 21Shares Sui ETF: A Bold Step in Crypto Integration
Altcoin News
The Impact of Legal Battles on Coinbase: A Closer Look
Cryptocurrency Law
US Steps Up Efforts to Build Strategic Bitcoin Reserve
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?