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Homeweb3.0Litecoin (LTC) Price Analysis: Despite Regaining Some Losses, the Altcoin Faces an Uphill Challenge Ahead

Though Litecoin's [LTC] price has been able to regain a part of its losses, it faces an uphill challenge ahead of it. AMBCrypto discovered this after analyzing the altcoin's Large Holders Netflow.

Litecoin (LTC) Price Analysis: Despite Regaining Some Losses, the Altcoin Faces an Uphill Challenge Ahead

After plunging to lows of $57.55 on 5 July, Litecoin (LTC) encountered some relief in the last 24 hours with a 7.05% hike. At the time of writing, the cryptocurrency was changing hands at $62.50.

However, the altcoin’s Large Holders Netflow was down by 95.84% in the last 7 days. This metric is the difference between the Large Holders Inflow and the Large Holders Outflow. For context, large holders are addresses holding at least 0.1% to 1% of the total circulating supply.

When the netflow is positive, large investors are accumulating more than they are selling. On the contrary, when it is negative, it implies that these holders are selling more than they are buying. This is the case with LTC.

According to IntoTheBlock, Large Holders Netflow can largely impact the price of the altcoin. If the metric remains negative, Litecoin’s uptrend might be halted. However, if the inflows begin to outpace outflows, the value could trade above $60 in the short term.

After considering this, it is also important to evaluate other datasets to lend some insights into LTC’s potential direction. One such metric is the Investor Capitalization.

This metric is the difference between Realized Cap and Thermocap. The outcome of this calculation indicates if the coin has hit the top or if the bottom is in.

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