![52.89% Litecoin [LTC] investors in profit: Will the other shoe drop?](https://i.headtopics.com/images/2023/3/1/cryptoamb/52-89-litecoin-ltc-investors-in-profit-will-the-ot-52-89-litecoin-ltc-investors-in-profit-will-the-ot-1630909502571642881.webp)
52.89% of LTC holders hold at a profit. The LTC market is currently plagued by low investor conviction. Following a 33% price rally year-to-date, data from IntoTheBlock indicated that there has been a corresponding increase in the number of Litecoin [LTC] investors holding the cryptocurrency at a profit. At press time, over 50% of LTC […]
According to the on-chain data provider, LTC hit a bear market low in 2022 when 85% of its holders logged losses on their investments. Historically, this low was also hit in the bear market of 2015, 2018, 2019, and 2020. While it ushered in momentary periods of relief, this low has often been revisited, IntoTheBlock noted further.
Having spent the last week trading in a tight range, LTC’s price has oscillated between the $95 and $97 price marks in the last seven days. Trading in a tight range can occur during periods of low trading volume when there is limited activity in the market. At press time, the coin’s Relative Strength Index and Money Flow Index rested above their neutral lines. This, typically, indicates high buying momentum. However, a look at the Aroon Up Line showed that the uptrend in the LTC market was almost non-existent. As of this writing, this was pegged at 7.14%.
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