Litecoin (LTC) shows signs of impending rally, according to historical metrics – BeInCrypto

Litecoin (LTC) shows signs of a rally imminent in 2022, linked to the number of active addresses, similar to a pattern seen in 2017. However, Reserve Risk and MVRV-Z metrics indicate an oversold state rather than an overbought state, painting a somewhat outlook. ambiguous for 2022.

Litecoin is showing the signs of another rally bullish, closely emulating other bull trends that occurred in November 2013, where the price soared from $ 5 to $ 63 in just a few weeks.

In December 2017, the price rose from $ 50 to $ 369, amid an increase in demand. Recent metrics on-chain indicate a general upward trend. The number of addresses has experienced an upward parabolic trend since December 2020, which appears to correlate with the upward trend in price from $ 129.94 on December 31, 2020 to $ 377.69 on May 12, 2021.

The number of active addresses recently showed a strong peak, similar to that observed in April 2021. The seven-day moving average indicated a peak in active directions on October 10, 2021.

This is similar to when the number of active addresses reached 16,961 on April 8, 2013, LTC cost $ 4.50. November 12, 2013 saw an increase to 18,322 active addresses and after that the price rose to $ 95 on November 28, 2013.

The seven-day moving average of active addresses peaked on May 16, 2017, after which LTC rose from $ 23.50 to a cycle high of $ 369 on December 17, 2017.

Other indicators such as LTC’s Reserve Risk index and its MVRV-Z score paint a different picture, indicating that Litecoin has been oversold and not overbought.

an overbought state suggests that there has been a significant and constant uptrend with minimal retracement, while an oversold state is one in which the price of a currency has shown a constant downtrend, with minimal correction.

There have been two occasions in which Reserve Risk indicated an overbought state, followed by a rebound. Nowadays, the reserve risk is below 0.003, showing an oversold condition.

The MVRV-Z score is a way to measure whether Litecoin is undervalued or overvalued relative to its fair market value over time. The current MVRV-Z score is above two and must reach seven to be considered overbought.

Litecoin price behavior over the past four years

Historically, 2016 was the least eventful year for the Litecoin movement, with the price only increasing by 27%, ending the year at $ 4.36.

The year 2017 was the most bullish in Litecoin price history, with bullish candles being created almost every month. At the end of the year, it had increased 5.451%. Whereas, in 2018, Litecoin had a bearish conclusion for each month and fell to $ 30.62 at the end of the year.

The year 2019 saw a high of $ 146.95 but eventually the year ended with an increase of 33.7%,

At the time of writing, the price of Litecoin stands at $ 188.79, with a market capitalization approximately $ 13.3 billion.

Litecoin vs. Bitcoin

Litecoin was recently supported by BitPay and accepted in AMC theaters. Litecoin was created in 2011 as a fork de Bitcoin.

Like Bitcoin, Litecoin is deflationary, with a maximum of 84 million coins that can be minted. For its part, Litecoin has a time faster (2.5 minutes) to validate the blocks, compared to 10 minutes for bitcoin.

Litecoin has a less complex validation method than Bitcoin, although it also uses Proof-of-Work.


All information on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at your own risk.

We want to give thanks to the author of this short article for this outstanding content

Litecoin (LTC) shows signs of impending rally, according to historical metrics – BeInCrypto

Dispensary Business News