Litecoin price has seen a correction of more than 22% in the last 30 days alone. The downtrend did not end last week, as it dropped by 13%.
Cryptocurrency Litecoin [LTC] has seen a downturn in the past month, losing a substantial amount of its value. But, recent data might suggest that LTC could be on an 8-year cycle. At first glance, this might be alarming. However, there’s more to the story.
Here’s what’s happening with Litecoin.
Coin Market Cap data revealed that Litecoin’s price has seen a correction of more than 22% in the last 30 days alone. Last week, the downtrend did not end, as it dropped by 13%.
While this might be troubling, the latest analysis by Master, a well-known cryptocurrency analyst, revealed a different insight. According to his tweet, Litecoin is currently in an 8-year cycle.
If this holds true, then investors can expect to see LTC peak in October 2025. Historically, during every 4-year cycle, LTC has peaked. To be specific, during the years 2014, 2018, and 2022.
If history were to repeat itself, then during its next peak, LTC’s price could range from $65K to over $100K.
This might be expected in the short term.
Since looking at a 2025 peak is still a bit ahead for the present, AMBCrypto planned to check the coin’s current status to see what to expect in the near term.
The good news is that, like many other cryptocurrencies, LTC has also gained bullish momentum in the last 24 hours, as its price rose by more than 3%.
At the time of writing, LTC was trading at $64.73 with a market capitalization of over $4.8 billion, making it the 21st largest cryptocurrency.
Things might improve soon, as the coin’s NVT ratio dropped last week. A decrease in the metric indicates that the asset is undervalued, suggesting an increase in prices.
It also seems that investor confidence in the coin has been rising with its weighted sentiment going up. This certainly indicates that bullish sentiment around the coin has been dominating the market.
However, not all metrics were optimistic, For instance, the MVRV ratio registered a decline. Its velocity also decreased in the past few days, meaning that LTC is being used less in transactions within a given time frame.
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Our analysis of Coinglass data also showed that the buy/sell ratio decreased, indicating more short positions in the market than long positions.
The MACD indicator for the coin showed a bearish upper hand in the market. Yet, nothing can be said for sure as the Chaikin Money Flow (CMF) registered a slight increase, suggesting that the price will continue to rise.
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