{"id":36725,"date":"2024-08-27T09:50:58","date_gmt":"2024-08-27T09:50:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/litecoin-shrimps-capitulate-as-ltc-declines\/"},"modified":"2024-08-27T09:50:58","modified_gmt":"2024-08-27T09:50:58","slug":"litecoin-shrimps-capitulate-as-ltc-declines","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/litecoin-shrimps-capitulate-as-ltc-declines\/","title":{"rendered":"Litecoin shrimps capitulate as LTC declines"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670874099665-e837c785-2f97-46b3-a360-1ae8a4c58837-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670874099665-e837c785-2f97-46b3-a360-1ae8a4c58837-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670874099665-e837c785-2f97-46b3-a360-1ae8a4c58837-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670874099665-e837c785-2f97-46b3-a360-1ae8a4c58837-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Litecoin price hovers around $63 with the altcoin down over 5% in the past week and 11% over the last 30 days.<\/span><\/li>\n<li><span style=\"font-weight: 400\">According to CoinGecko, LTC has fallen 84% since hitting its all-time high above $410 in May 2021. <\/span><\/li>\n<li><span style=\"font-weight: 400\">The downtrend that has seen one of the earliest cryptocurrencies slide out of the top 10 by market cap now has small wallet holders selling as price nears a crucial support area.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Market intelligence and on-chain analytics platform Santiment has highlighted a dip in Litecoin shrimp holders \u2013 wallet addresses with less than 1 LTC. These wallets have sold-off over 45,200 LTC, but analysts say this could be a \u201cturnaround.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cLitecoin has not been lighting social forums on fire with its market value dropping -36% since its April 1st peak. A sudden liquidation of 45.2K net 0.1-1 LTC wallets indicate that small traders are finally capitulating out of the OG crypto asset. Small fish impatiently \u2018jumping ship\u2019 is often a turnaround sign for an asset to begin turning bullish once again,\u201d Santiment analysts <a href=\"https:\/\/x.com\/santimentfeed\/status\/1828269348802437299\" target=\"_blank\" rel=\"noopener\">wrote on X<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">76% of Litecoin wallets in loss<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In the past few months, the selling has coincided with price dipping from above $110 in early April. After bouncing from lows of $56 following the crypto crash on August 5, Litecoin is back below $64 and near the major support zone around $60.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Per<\/span> <a href=\"https:\/\/app.intotheblock.com\/coin\/LTC\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\">, the In\/Out of the Money indicator is largely bearish. About 76% of addresses are in loss at current price and only 18% are in profit. Notably, 22% of addresses have held LTC for less than a year and could be part of the capitulating small holders.\u00a0<\/span><\/p>\n<p>However, 78% of wallets have held the altcoin for more than a year.<\/p>\n<h2><span style=\"font-weight: 400\">Litecoin price chart<\/span><\/h2>\n<p><span style=\"font-weight: 400\">0n the daily chart, both the RSI and MACD indicators suggest bears might push Litecoin price lower.<\/span><\/p>\n<figure id=\"attachment_221687\" aria-describedby=\"caption-attachment-221687\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-221687 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/08\/ltc-usd-chart.png\" alt=\"\" width=\"1057\" height=\"545\"\/><figcaption id=\"caption-attachment-221687\" class=\"wp-caption-text\"><a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"noopener\">Litecoin price chart. Source: TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The price is below the 50-day SMA, which could act as the primary resistance level around $66. On the other hand, further weakness could see LTC seek the demand reload zone around $55.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/litecoin-shrimps-capitulate-as-ltc-declines\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Litecoin price hovers around $63 with the altcoin down over 5% in the past week and 11% over the last 30 days. According to CoinGecko, LTC has fallen 84% since hitting its all-time high above $410 in May 2021. The downtrend [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":36726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36725"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36725"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36726"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}