Based on BlockchainSanta’s analysis, Litecoin might be due for a potential 200% upside might in the days leading up to the halving. This expectation is based on LTC’s historic performance during previous halvings.
in the days leading up to the halving. This expectation is based on LTC’s historic performance during previous halvings. Litecoin might be worth over $250 if Litecoin lives up to its historic performance.LTC’s latest price action indicated that the rally has already begun. Its $89.27 press time price represented a 17% upside from its lowest level in the last four weeks.
On-chain data also revealed that most of the buying was done by long-term holders. For instance, LTC’s mean coin age was seen on a steady upward trajectory in the last four weeks. This was an important observation because it underscores more probability of higher local lows. Nevertheless, it does not guarantee the absence of short-term sell pressure.Litecoin’s MVRV ratio confirmed that there has been noteworthy short-term profit-taking during the last four weeks despite the higher mean coin age.
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