New Litecoin Chart Backs Inks's Theory, But Doubts Remain
- PHPzOriginal
- 2024-08-31 22:05:16502browse
CEO of TWC Christopher Inks stated that he expects severe blowback for his current analysis on Litecoin (LTC).
TWC CEO Christopher Inks anticipates severe backlash for his latest Litecoin (LTC) analysis. Inks claims that Litecoin’s whole life cycle chart may have just completed a multi-year fourth wave triangle, a pattern he has been speculating about for several years.
“I'm about to get so much hate for posting this, but the full life cycle $LTC chart looks like it may have just completed a multi-year fourth wave triangle. This is something I've been talking about was likely in progress for a few years now but I have never seen a #Litecoin…”
New Litecoin Chart Backs Inks’s Theory, But Doubts Remain
However, he noted that until recently, he had never seen a Litecoin chart that went back far enough to confirm his theory. This recent discovery provides strong evidence for his analysis, although he admits that the final verdict is still up for debate.
Litecoin is currently trading at around $65.51, up 5.44% in the past 24 hours. This price increase has brought its market capitalization to approximately $4.908 billion. Litecoin’s impressive performance has placed it among the top five gainers of the day, sparking further speculation about its future trajectory.
Previously, CNF reported that smaller traders are capitulating, which could indicate a bullish reversal for Litecoin as smaller investors are becoming impatient.
The rapid decrease in net smaller traders’ holdings, each with 0.1 to 1 LTC, indicates that these small traders are now capitulating, potentially clearing the path for a greater price surge.
Additionally, about a week ago, we reported that Litecoin’s on-chain volume has more than doubled, with over 412 million LTC transferred in a single week, amounting to $26.5 billion in value.
Moreover, Litecoin has processed 62 million transactions in just seven months and is on track to surpass the total transactions recorded last year.
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