Litecoin rises 6% in 24 hours hitting a 3 months high
By: bitcoin ethereum news|2025/05/02 19:45:01
0
Share
Litecoin rose 6.52% in 24 hours to hit a three-month high. As demand for the altcoin grew, LTC broke out of a descending channel. Over the past day, Litecoin [LTC] has made a strong price upswing, rising from a local low of $83 to reach a monthly high of $91. Since hitting these levels, it has slightly retraced on one-hour timeframe. As of this writing, Litecoin was trading at $89. This marked a 6.52% increase over the past 24 hours. Over the same period, the altcoin recorded a 31% increase in its volume, hitting $509.5 million. The surge in volume while prices are increasing indicates rising demand, with buyers entering the market to accumulate the token. As such, traders have been actively accumulating LTC over the past week, signaling growing confidence with the altcoin. Source: IntoTheBlock This accumulation is evidenced by a massive drop in Litecoin’s flow into exchanges. Over the past three weeks, total flows to exchanges aggregated has declined to hit a three-month low. Such a significant decline suggests that inflow into exchanges were declining, reflecting accumulation behavior. Source: IntoTheBlock This behavior is even more dominant among LTC whales. As such, the large holder’s netflow to exchange ratio has declined sustainably over the past three weeks to hit a three-month low. This implies less selling activity by Litecoin’s large holders. Thus, large holders are accumulating more than they are selling, with a positive capital inflow of 116.8k LTC. Source: Santiment This trend is further evidenced by the surge in Litecoin’s scarcity. Looking at the altcoin’s stock-to-flow ratio, it has spiked over the past day to 306. Such a rise in SFR indicates a higher scarcity, with less LTC available for immediate selling. Often, increased scarcity while demand rises or remains constant is a recipe for higher prices. With such massive demand, the question is whether the altcoin can hold onto these gains for a sustained uptrend. Is Litecoin finally ready to rally? According to AMBCrypto’s analysis, Litecoin was experiencing strong demand at press time, with buyers starting to take over the market. The prevailing market conditions could position LTC for more gains. Before this price pump, the altcoin had been trading within a week-long ascending pattern inside a multi-month descending channel. With the recent price upswing, Litecoin has broken through the descending channel and was retesting it at press time. A successful retest will see the altcoin make a major move to the upside. Source: Tradingview Looking at Litecoin’s MACD, it has risen to 1.2 since making a bullish crossover two weeks ago. The continued rise suggests that the altcoin is experiencing strong upward momentum, closing higher highs on daily charts. With the momentum strengthening, it positions the altcoin towards a successful retest. Therefore, if the current demand holds while the upward momentum continues to hold strong, the altcoin could successfully retest the latest move and make a move to $96. However, if the attempt by bulls fails, a pullback will see Litecoin drop to $83. Source: https://ambcrypto.com/litecoin-shakes-off-bearish-pressure-is-96-next-in-line-for-ltc/
You may also like

Should we escape the peak? The principle of the tail-end market in the stock market
The truth behind the Rockefeller escape myth: the end of the bull market is not due to overheating emotions, but rather the exhaustion of new funds. Currently, market buying volume has been concentrated and released, so it is advised to be cautious of "tail-end market trends" and gradually take prof...

Morning News | Five major virtual asset platforms in South Korea have experienced 57 incidents of hacking and system failures in six years; Grayscale submits registration application for Canton ETF
Overview of Important Market Events on June 7th

The ambitions of Kalshi, MTS, and a16z
The prediction market may be the only field in 2025 that can collectively excite prestigious dollar fund investors, digital currency enthusiasts, and media professionals.

The AI bubble is bursting
In the clamor of the bubble, the potential of the underlying productivity is not inflated at all.

Real withdrawal is to release water: When crypto VCs position themselves in the Agent network effect
In the high-value scenario of finance, blockchain serves as an open financial testing ground, and stablecoins are the certificates for agents optimizing market processes. This is not about scale and resource investment; it is about the establishment and expansion of mechanisms.

Has the narrative of BTC as "digital gold" failed?
What truly matters is not whether it will rise, but whether you can live to see that day.

A Perspective on the Indian Cryptocurrency Market: Descending into Silence or Moving Towards Maturity?
The Indian cryptocurrency industry has not gone silent; it is steadily maturing towards diversification.

It took me a year to see the painful truth about Agent payments
Among the four major tracks of Agent purchasing, Agent API, Agent inter-payment, and Agent finance, currently only Agent finance has real users and willingness to pay. But worse than having no demand is that the real competition point has never been payment...

Morning News | Bitmine issues preferred shares to raise $300 million; Polymarket accuses Kalshi of industrial espionage
Overview of Important Market Events on June 4th

Privacy coin trust crisis! ZEC plummets over 56% in a single day
The recent increase in ZEC is nearly 3 times, and the vulnerability news may have just provided an opportunity to exit.

Who is leading the price discovery in the cryptocurrency market? Measured delays on platforms like Binance and Hyperliquid
There is a saying circulating on crypto Twitter: Hyperliquid has replaced Binance and become the center of crypto price discovery. Arrakis conducted a cross-platform test using the tick-by-tick transaction data from 29 perpetual markets, and the truth lies within milliseconds.

Anthropic launches IPO: Business miracle or valuation bubble?
Human economy is transitioning from a carbon-based drive to a dual-engine drive of carbon-based and silicon-based, which is what is truly happening behind Anthropic's IPO.

What Is SpaceX IPO and Why Is Everyone Talking About It?
What is SpaceX IPO? Learn why investors are watching SpaceX's potential $1.77 trillion public debut, from Starlink and AI to Mars ambitions, valuation risks, and pre-IPO trading opportunities.

Macroeconomic Analysis of the African Payment Market Landscape
Why mobile payments and cryptocurrencies thrive in the absence of banks

Morning Report | Coinbase Ventures makes its first investment in ENA; SpaceX plans to set the IPO price at $135 per share
Overview of Important Market Events on June 3rd

Full text and analysis of the speech by the CEO of SanDisk at the 42nd Annual Strategic Decision Conference of Bernstein
The core value of Goeckeler's speech lies in its provision of a highly transparent and logically clear narrative framework for corporate transformation.

Bitcoin Price Prediction 2030: Ark Invest Forecasts $710K
Explore Ark Invest and Standard Chartered bitcoin price prediction 2030 forecasts, plus key risks and how to position your portfolio. Full analysis on WEEX.

WEEX Review 2026: Fees, Security and Trading Features
Read our in-depth WEEX review covering fees, security, copy trading, and 400x leverage. See how it compares to Binance and Bybit. Full analysis on WEEX.
Should we escape the peak? The principle of the tail-end market in the stock market
The truth behind the Rockefeller escape myth: the end of the bull market is not due to overheating emotions, but rather the exhaustion of new funds. Currently, market buying volume has been concentrated and released, so it is advised to be cautious of "tail-end market trends" and gradually take prof...
Morning News | Five major virtual asset platforms in South Korea have experienced 57 incidents of hacking and system failures in six years; Grayscale submits registration application for Canton ETF
Overview of Important Market Events on June 7th
The ambitions of Kalshi, MTS, and a16z
The prediction market may be the only field in 2025 that can collectively excite prestigious dollar fund investors, digital currency enthusiasts, and media professionals.
The AI bubble is bursting
In the clamor of the bubble, the potential of the underlying productivity is not inflated at all.
Real withdrawal is to release water: When crypto VCs position themselves in the Agent network effect
In the high-value scenario of finance, blockchain serves as an open financial testing ground, and stablecoins are the certificates for agents optimizing market processes. This is not about scale and resource investment; it is about the establishment and expansion of mechanisms.
Has the narrative of BTC as "digital gold" failed?
What truly matters is not whether it will rise, but whether you can live to see that day.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com

