The Expected Movement Has Begun in Litecoin

While Litecoin (LTC) market trends are changing, an increase in accumulation was noted shortly after the last halving event. Investors may be expecting gains in the price of LTC as they accumulate the cryptocurrency. According to crypto analyst VICKADO, Litecoin’s total balance addresses have seen a sharp increase over the past few days. This shows that the buying trend is dominant in the market.

The total number of long-term holders of Litecoin has reached 5 million, indicating confidence in the crypto. While a jump in the price of LTC was expected, accumulation increased after the halving event and whale activity remained at high levels, indicating that large withdrawals could occur. However, despite high expectations, LTC’s performance has fallen by more than 5% in the last seven days. Litecoin’s MVRV Z-Score is below the green zone, which may indicate a market bottom.

When Litecoin’s aSORP value is less than 1, it appears that investors are selling their holdings at a loss. In the midst of a bear market, this may indicate that the market has bottomed. The overall market for LTC is unsure, with data from LunarCrush showing that both bullish and bearish sentiment for LTC has increased by almost 100% in the last seven days.