{"id":390098,"date":"2024-05-06T21:30:41","date_gmt":"2024-05-06T16:00:41","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=390098"},"modified":"2024-05-06T17:41:57","modified_gmt":"2024-05-06T12:11:57","slug":"litecoins-18-plunge-attracts-whales-better-things-coming","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/litecoins-18-plunge-attracts-whales-better-things-coming\/","title":{"rendered":"Litecoin&#8217;s 18% plunge attracts whales &#8211; Better things coming?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Litecoin\u2019s price dropped by 18% in the last 30 days.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">A few metrics hinted at a trend reversal.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"http:\/\/ambcrypto.com\/category\/litecoin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Litecoin [LTC]<\/span><\/a><span style=\"font-weight: 400;\"> bears dominated the coin\u2019s price action last month as it shed a substantial amount of its market capitalization. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The drop pushed LTC to the 20th spot on the list of top cryptos by market cap. However, whales have now started to accumulate LTC.\u00a0<\/span><\/p>\n<h4><b>Litecoin\u2019s double-digit drop<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/litecoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, Litecoin\u2019s price declined by more than 18% over the last 30 days. The massive price drop pushed the majority of LTC holders into losses. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s look at IntoTheBlock\u2019s <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/LTC\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that only 43% of LTC holders were in profit. The declining, precise action also took a toll on the coin\u2019s social metrics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> AMBCrypto\u2019s analysis of Santiment\u2019s data revealed that Litecoun\u2019s social volume remained low. <\/span><\/p>\n<figure id=\"attachment_390099\" aria-describedby=\"caption-attachment-390099\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024.png\"><img decoding=\"async\" class=\"wp-image-390099 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024.png\" alt=\"Litecoin's weighted sentiment remained low\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.36.07-06-May-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-390099\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, its Weighted Sentiment remained in the negative zone for most of last month. This indicated that bearish sentiment around the coin was dominant in the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, while the coin\u2019s price dipped, whales used the opportunity to buy more coins. This was evident from the rise in the number of addresses holding 10,000\u2013100,000 LTC.<\/span><\/p>\n<figure id=\"attachment_390100\" aria-describedby=\"caption-attachment-390100\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024.png\"><img decoding=\"async\" class=\"wp-image-390100 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024.png\" alt=\"Whales bought Litecoin\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.37.37-06-May-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-390100\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Apart from that, AMBCrypto also found that long-term holders were reluctant to sell LTC, as its Hodler Net Position Change chart remained green. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tthe Hodler Net Position Change shows the monthly position change of long-term investors (HODLers). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The green chart gave a long-term bullish notion, as it suggested that the whales and LTHs expect LTC\u2019s price to rise in the coming weeks or months.\u00a0<\/span><\/p>\n<figure id=\"attachment_390102\" aria-describedby=\"caption-attachment-390102\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc.png\"><img decoding=\"async\" class=\"wp-image-390102 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/glassnode-studio_litecoin-hodler-net-position-change-ltc-1200x675.png 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-390102\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<h4><b>Whale activity is paying off\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The buying pressure on LTC from whales might have played a role in LTC&#8217;s trend reversal as the market turned bullish. The coin\u2019s price increased by 1.5% in the last 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, LTC was trading at $82.17 with a market capitalization of over $6.1 billion. The coin\u2019s <\/span><a href=\"https:\/\/cfgi.io\/litecoin-fear-greed-index\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Fear and Greed Index<\/span><\/a><span style=\"font-weight: 400;\"> indicated that the market was in a \u201cfear\u201d phase. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whenever the metric reaches that level, it hints at a price uptick. The recent price uptrend was accompanied by a rise in its Open Interest, indicating that the bullish trend might continue further.\u00a0<\/span><\/p>\n<figure id=\"attachment_390103\" aria-describedby=\"caption-attachment-390103\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024.png\"><img decoding=\"async\" class=\"wp-image-390103 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024.png\" alt=\"LTC's open interest increased\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Litecoin-LTC-16.43.29-06-May-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-390103\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">To better understand whether this trend would last, AMBCrypto then checked Litecoin\u2019s daily chart. We found that the MACD displayed a bullish crossover. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/litecoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Litecoin\u2019s [LTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-25\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The coin\u2019s price was also near its 20-day exponential moving average (EMA). A successful breakout above that resistance could allow LTC to recover from its last month\u2019s price drop.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But not everything was bullish, as the Chaikin Money Flow (CMF) registered a drop. This indicated that LTC might not be able to go above its 20-day EMA.\u00a0<\/span><\/p>\n<figure id=\"attachment_390104\" aria-describedby=\"caption-attachment-390104\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59.png\"><img decoding=\"async\" class=\"wp-image-390104 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/LTCUSDT_2024-05-06_16-46-59-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-390104\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Whales continued to buy Litecoin while its price dropped, suggesting potential long-term bullish sentiment.<\/p>\n","protected":false},"author":75,"featured_media":390107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6377,66,3,4,20],"tags":[6427],"class_list":["post-390098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-litecoin-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Litecoin&#039;s 18% plunge attracts whales - Better things coming? 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