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Litecoin (LTC), a fork of Bitcoin, is performing well today, September 22, even while BTC is slightly down. As of 7:50 a.m. EST, LTC is trading at $64, representing an increase of over 2% in the past 24 hours.
But LTC has shed 2% of its value in the past month. On CoinMarketCap, the asset is ranked No. 15, with a market cap of over $4 billion. This suggests that while there have been recent gains, the overall trend for the past month has been slightly negative.
So, if LTC continues its recent upward trend, hitting $100 is a plausible scenario. However, predicting exact prices in the volatile world of cryptocurrencies is challenging.
Litecoin Whales Reduce Buying Pressure after FOMC Report, What’s in for LTC?
Last week, big holders of Litecoin, Whales, jumped in to buy the coin when the price was low.
The on-chain data indicates that whales, holding 10,000 to 1 million coins, significantly contributed to the recent price recovery.
From September 10 to September 14, they took advantage of the price drop and acquired 510,000 LTC coins. This boosted their total holdings from 38.94 million LTC to 39.45 million LTC.
Whales Activities Dropped. Source: Santiment
As a result, Litecoin’s price spiked by 12%, reaching around $66 on September 15th. However, the pressure at which these whales buy LTC tokens has dropped after the FOMC report. This could impact how the price of Litecoin moves shortly.
But, if Litecoin’s whales return to buy more, it could potentially lead to an increase in LTC price again. Their significant buying power can influence the market positively, causing other investors to follow suit.
However, it’s important to remember that market performance can be complex and influenced by various factors.
Litecoin Price Analysis Signals Bullish Comeback: Should Investors Hold?
Recently, the LTC market formed a “death cross” spreading uncertainty about the coin’s future. But, things seem to be changing as the market shows recovery signs, signaling bullish sentiment.
This is evident in LTCUSD heading toward the 50-Day SMA sitting above the coin. However, there might be some challenges as the indicator may serve as a potential resistance point. But, if the whales resume buying activities, LTCUSD could break above this region.
Also, the MACD above the signal confirms the short-term bullish sentiment in the market. Furthermore, the Relative Strength Index (RSI) is at 47 and facing upwards.
This suggests that the coin is neither too strong nor too weak at the moment but has the potential to gain bullish traction.
LTCUSD exhibits bullish sentiment and could potentially continue if the bullish momentum is sustained. However, it’s important to remember that nothing is certain in cryptocurrency. Always be cautious and consider getting advice from experts.
But while LTC struggles to move above the 50-day SMA, another opportunity is available in a new coin, BTCBSC, on presale at low prices.
Bitcoin BSC Raises Hope as Its Presale Crosses Soft Cap Target in Less Than 1 Month
Bitcoin BSC (BTCBSC), a fascinating green crypto project, has caused a ripple among investors following its impressive presale achievements. Bitcoin BSC is built on the Binance Smart Chain blockchain to improve security, scalability, efficiency, and faster transactions.
Moreover, it supports a staking mechanism, helping it to enhance transaction validations and reward investors who staked their assets.
Bitcoin BSC Astonishing Presale Performance
The project’s initial coin offering campaign has recorded tremendous success as investors were thrilled with its uniqueness. It has attained several presale milestones, raising millions of dollars to help achieve its vision.
Today, the project team has expressed gratitude to its community as it reaches another presale milestone of over $4.2 million.
https://twitter.com/Bitcoinbsctoken/status/1705140304951562491
Interestingly, its staking program rewards BTCBSC to holders per 10 minutes, and the rewards are cashed out daily.
The presale website states more than 2.1 million Bitcoin BSC tokens have been staked. Currently, the staking pool has a reward rate of 0.25 BTCBSC token added whenever a new BSC block is created.
Interested investors can visit the website now to grab their share of the tokens on sale. To secure a reasonable profit position, visit the presale website and follow the how-to-buy guidelines carefully.
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