For quite some time now, people have seemingly ignored or dismissed Litecoin as a cryptocurrency with profit potential. Most of these people have been proven wrong over the years. Even today, the Litecoin price is showing healthy signs of life.
Interesting Litecoin Price Momentum
These past 30 days have been very bullish for most of the crypto assets. A lot of projects moved up in value, yet lost some ground against Bitcoin. Litecoin is following an opposite trend in this regard. LTC is bullish in both USD and BTC value at the same time, which is somewhat rare.
Because of this momentum, the Litecoin price has been able to note a 41.2% gain in the past 30 days. More importantly, Litecoin hasn’t lost any value as far as LTC/BTC is concerned. Sustaining such a strong trend may pose a few challenges, but for now, everything is still going according to plan.
Bullish Litecoin Price Sentiment Increases
Looking at just the recent price action will only tell part of the story. In Litecoin’s case, it is equally important to keep tabs on the social activity. In recent days, things have certainly improved for LTC, at least where social engagement is concerned. Everything else is looking less than great, but this situation can turn around quickly.
As far as the social sentiment is concerned, 70% of people feel bullish. That is a very interesting statistic to keep an eye on. The current market sentiment warrants a bullish outlook for most assets. Litecoin belongs on this list, but it remains to be seen if the trend can continue.
Liquidity is Alright
Comparing the liquid marketcap of different assets can yield valuable insights. In Litecoin’s case, it currently ranks 9th of all assets. With $3.864bn in liquidity, the Litecoin price momentum should not run into some major issues as of yet.
In terms of 24-hour transaction volume, Litecoin is doing quite well. It is in 12th place among all assets, with $136m in volume. All of these statistics are bullish for Litecoin in their own regard. The coming days will undoubtedly get very interesting, to say the very least.
Technical Indicators are Bullish
Looking at a Litecoin price chart will hardly ever tell what is really happening. That being said, it is still a valuable source of information. On the LTC/USDT chart, it is evident that there has recently been a big surge, followed by some sideways action. That could indicate an accumulation going on, as the Litecoin price has not dropped all that much in recent days.
As the MA20 recently performed a bullish crossover with the MA200, there should be a continuation of the overall uptrend. How much higher the LTC price will go in the process, is a different matter altogether. The RSI looks well overbought, but it is angling down just yet.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.