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Home»ALTCOIN NEWS»Litecoin (LTC) Flashes Bullish Signs Amid Increased Address Activity: Cryptocurrency Analysis Firm Santiment
ALTCOIN NEWS

Litecoin (LTC) Flashes Bullish Signs Amid Increased Address Activity: Cryptocurrency Analysis Firm Santiment

By Crypto FlexsJanuary 6, 20242 Mins Read
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Litecoin (LTC) Flashes Bullish Signs Amid Increased Address Activity: Cryptocurrency Analysis Firm Santiment
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Cryptocurrency analytics firm Santiment said peer-to-peer payment network Litecoin (LTC) is flashing numbers that could lead to a price spike.

st tly note Litecoin, decentralized finance (DeFi) protocol Maker (MKR), and liquid staking service provider Lido DAO (LDO) are all seeing a rapid increase in address activity.

According to the analytics firm, on-chain signals are typically “accompanied by an increase in market capitalization.” Santiment also points out that Litecoin is showing a bullish differential, which is a technical signal that suggests the asset is poised for a price surge.

Source: Santiment/X

As of this writing, Litecoin is trading at $65.52, down about 11% since the beginning of the year when LTC opened at $73.88. Meanwhile, LDO is worth $3.54, up 30% since January 1, while MKR is worth $1,769, up 6.16% year to date.

However, some cryptocurrency analysts are not predicting a bullish price movement for the project, commonly known as “digital silver.”

Earlier this week, cryptocurrency trader Ali Martinez told his 39,500 followers on social media platform

“If the selling pressure continues, LTC could fall to $38, potentially confirming the formation of a bearish flag.”

video
Source: Ali Martinez/X

A drop to $38 would represent a 42% decline from Litecoin’s current price.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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