CryptoSlate reports:
The price of Litecoin (LTC) has increased by 3% in the past 24 hours. Market sentiment surrounding the coin remains bullish.
Litecoin [LTC], like most other cryptocurrencies, had a tough time last month as it lost a significant amount of value. In fact, considering the latest data, LTC may be in an 8-year cycle, which initially appears concerning.
However, there is more to the story.
What’s happening with Litecoin?
Data from CoinMarketCap shows that in just the last 30 days, Litecoin has experienced a pullback of over 22% in its price. The downward trend has not halted in the past week either, as it dropped by 13%.
Despite these concerns, popular cryptocurrency analyst Master’s latest analysis reveals a different picture. According to the tweets, Litecoin is currently in an 8-year cycle.
If true, investors could witness LTC reaching its peak in October 2025. Historically, LTC has peaked in each 4-year cycle, specifically in 2014, 2018, and 2022.
If history repeats itself, LTC could range from $65,000 to over $100,000 during the next peak period.
This is foreseeable in the short term.
As it seems a bit premature for the peak in 2025, AMBCrypto plans to examine the coin’s current status to gauge near-term expectations.
The good news is that, like several other cryptocurrencies, LTC has also gained upward momentum in the past 24 hours, with its price surging by over 3%.
At the time of writing, LTC’s trading price is $64.73, with a market cap exceeding $4.8 billion, making it the 21st largest cryptocurrency.
With Bitcoin’s NVT ratio dropping last week, a swift turnaround is possible. The decreasing ratio implies undervaluation, hinting at a potential price increase.
With rising weighted sentiment, investors’ confidence in the coin seems to have improved. This clearly indicates that bullish sentiment surrounding the coin prevails in the market.
Despite this, not all indicators are optimistic. For instance, the MVRV ratio has seen a decline. Its pace has also dropped over the past few days, suggesting lower usage frequency in LTC’s trades over a specific period.
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Our analysis of Coinglass data indicates a decrease in the long/short ratio as well, suggesting more short positions in the market than long positions.
The coin’s MACD displays a bearish stance in the market. Nevertheless, as the Chaikin Money Flow (CMF) shows an uptrend, indicating a continued price increase, nothing is certain.
