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