{"id":416999,"date":"2024-08-23T03:30:58","date_gmt":"2024-08-22T22:00:58","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=416999"},"modified":"2024-08-22T20:00:08","modified_gmt":"2024-08-22T14:30:08","slug":"litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\/","title":{"rendered":"Litecoin: 2 key factors that will determine LTC&#8217;s short-term fate"},"content":{"rendered":"<ul>\n<li><em>Litecoin can breakout if altcoin season kicks in and institutional buyers add to their bags.<\/em><\/li>\n<li><em>Litecoin\u2019s hashrate soared to new historic highs, but will short-term price enjoy some bullish relief?<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/litecoin-news\/\" target=\"_blank\" rel=\"noopener\">Litecoin [LTC]<\/a> may not have ETFs yet like its bigger siblings, but that has not stood in the way of institutional demand.<\/p>\n<p>Grayscale, one of the most noteworthy institutional investors in the crypto space, has been adding more LTC to its portfolio.<\/p>\n<p>Recent data reveals that Grayscale has been accumulating Litecoin regardless of market headwinds. The institutional investors did not slash its holdings during the crash at the start of August.<\/p>\n<p>Instead, it maintained a <a href=\"https:\/\/twitter.com\/elreydeldolar\/status\/1826236921988911260?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">positive balance<\/a>, which grew from 1.75 million LTC to 1.85 million LTC in the last four weeks. This is the highest amount of Litecoin that Grayscale has ever held.<\/p>\n<p>Grayscale\u2019s Litecoin bags represent 0.024% of LTC&#8217;s current supply. While this may not be much, it highlighted an important observation that whales and institutional investors were still interested in it.<\/p>\n<p>Just a month ago, the Litecoin network confirmed that Fidelity, an investment firm with over $12 trillion assets under management, started offering LTC exposure to its clients.<\/p>\n<p>These developments may attract more interest from retail traders.<\/p>\n<h2><strong>Litecoin hashrate soars to new ATH<\/strong><\/h2>\n<p>Litecoin has also been growing in other key areas. The most notable one being its hashrate, which has been steadily gaining over the years. The hashrate peaked at a new all-time high of 1.29 PH\/S within the last 24 hours.<\/p>\n<figure id=\"attachment_417002\" aria-describedby=\"caption-attachment-417002\" style=\"width: 794px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Litecoin-hash-rate-nw-high.jpg\"><img decoding=\"async\" class=\"wp-image-417002 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Litecoin-hash-rate-nw-high.jpg\" alt=\"Litecoin\" width=\"794\" height=\"485\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Litecoin-hash-rate-nw-high.jpg 794w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Litecoin-hash-rate-nw-high-300x183.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Litecoin-hash-rate-nw-high-768x469.jpg 768w\" sizes=\"(max-width: 794px) 100vw, 794px\" \/><\/a><figcaption id=\"caption-attachment-417002\" class=\"wp-caption-text\">Source: Coinwarz<\/figcaption><\/figure>\n<p>Litecoin has been bearish for the last five days after pulling back from a descending long term resistance. However, it might be preparing for a bullish relief.<\/p>\n<p>Its 1-hour chart recently formed a bullish divergence pattern with the RSI.<\/p>\n<figure id=\"attachment_417000\" aria-describedby=\"caption-attachment-417000\" style=\"width: 1013px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/LTCUSDT_2024-08-22_14-21-09.png\"><img decoding=\"async\" class=\"wp-image-417000 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/LTCUSDT_2024-08-22_14-21-09.png\" alt=\"Litecoin\" width=\"1013\" height=\"585\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/LTCUSDT_2024-08-22_14-21-09.png 1013w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/LTCUSDT_2024-08-22_14-21-09-300x173.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/LTCUSDT_2024-08-22_14-21-09-768x444.png 768w\" sizes=\"(max-width: 1013px) 100vw, 1013px\" \/><\/a><figcaption id=\"caption-attachment-417000\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>The bullish divergence suggested that LTC might pivot to the upside. An outcome that could possibly bring about another retest of the descending towards the $66 price range.<\/p>\n<p>It traded at $63.32 at press time, which was close to a previously tested support level.<\/p>\n<p>Zooming out, especially on the 1-day chart, revealed a high probability of a breakout. This is because Litecoin is in a wedge pattern and the support and resistance were squeezing it into a breakout or breakdown zone.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">LTC Profit Calculator<\/a><\/p>\n<hr \/>\n<p>The odds may turn out in favor of a bullish outcome now that institutional demand is actively engaged in accumulation. However, these observations do not necessarily guarantee that outcome.<\/p>\n<p>The markets have recently demonstrated a lot of unpredictability and the markets are currently on the edge regarding the state of the global economy. These factors may influence liquidity flows in the next few months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin&#8217;s latest news reveals growing demand from the institutional class of investors &#8211; Here&#8217;s why.<\/p>\n","protected":false},"author":63,"featured_media":417096,"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":[],"class_list":["post-416999","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"],"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: 2 key factors that will determine LTC&#039;s short-term fate - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Good tidings for Litecoin as its hash rate soared to new coins and it emerges that institutional investment is growing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Litecoin: 2 key factors that will determine LTC&#039;s short-term fate - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Litecoin&#039;s latest news reveals growing demand from the institutional class of investors - Here&#039;s why.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-22T22:00:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/WEBP-LTC.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Michael Nderitu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/nderitu_michael\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Nderitu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"AnalysisNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/\"},\"author\":{\"name\":\"Michael Nderitu\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/0f3e9d96bec7b08bb0f729fb02d5fcbf\"},\"headline\":\"Litecoin: 2 key factors that will determine LTC&#8217;s short-term fate\",\"datePublished\":\"2024-08-22T22:00:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/\"},\"wordCount\":464,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/WEBP-LTC.webp\",\"articleSection\":[\"Altcoin\",\"Litecoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/litecoin-2-key-factors-that-will-determine-ltcs-short-term-fate\\\/\",\"name\":\"Litecoin: 2 key factors that will determine LTC's short-term fate - 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