{"id":1706,"date":"2024-10-26T11:07:20","date_gmt":"2024-10-26T11:07:20","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2024\/10\/26\/litecoin-shrimps-capitulate-as-ltc-declines\/"},"modified":"2024-10-26T11:07:20","modified_gmt":"2024-10-26T11:07:20","slug":"litecoin-shrimps-capitulate-as-ltc-declines","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2024\/10\/26\/litecoin-shrimps-capitulate-as-ltc-declines\/","title":{"rendered":"Litecoin shrimps capitulate as LTC declines"},"content":{"rendered":"

Litecoin price hovers around $63 with the altcoin down over 5% in the past week and 11% over the last 30 days.<\/span>
\nAccording to CoinGecko, LTC has fallen 84% since hitting its all-time high above $410 in May 2021. <\/span>
\nThe downtrend that has seen one of the earliest cryptocurrencies slide out of the top 10 by market cap now has small wallet holders selling as price nears a crucial support area.<\/span><\/p>\n

Market intelligence and on-chain analytics platform Santiment has highlighted a dip in Litecoin shrimp holders \u2013 wallet addresses with less than 1 LTC. These wallets have sold-off over 45,200 LTC, but analysts say this could be a \u201cturnaround.\u201d<\/span><\/p>\n

\u201cLitecoin has not been lighting social forums on fire with its market value dropping -36% since its April 1st peak. A sudden liquidation of 45.2K net 0.1-1 LTC wallets indicate that small traders are finally capitulating out of the OG crypto asset. Small fish impatiently \u2018jumping ship\u2019 is often a turnaround sign for an asset to begin turning bullish once again,\u201d Santiment analysts wrote on X<\/a>.<\/span><\/p>\n

76% of Litecoin wallets in loss<\/span><\/h2>\n

In the past few months, the selling has coincided with price dipping from above $110 in early April. After bouncing from lows of $56 following the crypto crash on August 5, Litecoin is back below $64 and near the major support zone around $60.<\/span><\/p>\n

Per<\/span> IntoTheBlock<\/span><\/a>, the In\/Out of the Money indicator is largely bearish. About 76% of addresses are in loss at current price and only 18% are in profit. Notably, 22% of addresses have held LTC for less than a year and could be part of the capitulating small holders.\u00a0<\/span><\/p>\n

However, 78% of wallets have held the altcoin for more than a year.<\/p>\n

Litecoin price chart<\/span><\/h2>\n

0n the daily chart, both the RSI and MACD indicators suggest bears might push Litecoin price lower.<\/span><\/p>\n

Litecoin price chart. Source: TradingView<\/a><\/p>\n

The price is below the 50-day SMA, which could act as the primary resistance level around $66. On the other hand, further weakness could see LTC seek the demand reload zone around $55.<\/span><\/p>\n

The post Litecoin shrimps capitulate as LTC declines<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Litecoin price hovers around $63 with the altcoin down over 5% in the past week and 11% over the last 30 days. According to CoinGecko, LTC has fallen 84% since hitting its all-time high above $410 in May 2021. The downtrend that has seen one of the earliest cryptocurrencies slide out of the top 10 […]<\/p>\n","protected":false},"author":1,"featured_media":1707,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[103],"tags":[],"class_list":{"0":"post-1706","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-litecoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1706"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/1707"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}