Litecoin: Bears may be looking for a meal, but LTC might have these tricks up its sleeve

Litecoins [LTC] Mining companies still profitable despite LTC price drop since the last 30 days. Besides, whatever LTCs Lower volume and market value, there may be potential for LTC growth. Here’s how…

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Here AMBCryptos Litecoin Price Prediction [LTC] For 2022-2023

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There should be no “LTC”

according to Encoder comparisonLitecoin, a website dedicated to analyzing crypto data, and mining Litecoin, at the time of publication, was generating a profit rate of 34% per day. Additionally, LTC’s hash rate has seen significant growth over the past three months as well. This was a good sign for the coin as it indicates a strong and secure network.

Source: messari

Moreover, growth on the social front has also worked in the interest of LTC. According to LunarCrush, As a social media analytics company, Litecoin’s social engagement has increased by 10.68% in the past week and social mentions have increased by 11.68%.

But the mood was not there Litecoins benefit. LTC weighted sentiment has declined since last week, indicating that the crypto community has a negative view of the altcoin.

Source: feeling

LTC has also seen a decrease in its speed. Litecoin’s volume over the past 30 days is down 69.85% and is at 329.22 million at press time. Its market capitalization to Realized Value (MVRV) also fell, indicating a bearish outlook in the near term.

Source: feeling

Little hope for LTC

However, despite all the bearish activity, a peak in development activity has been observed in recent days. This activity can be attributed to the latecomerst MWEB . technology that worked with Litecoin.

MWEB technology allows users to confidentially transact on the Litecoin network. In addition, according to the latest Litecoin tweetThe new Litecoin token has been released for review. In addition, the LTC team worked with wallet developers and tried to improve their documentation.

At the time of writing, Litecoin is trading at $53.26. After testing the 58.59 resistance on September 17, LTC price fell by 8.62% and has traded between $55.36 and $50.36 since then. The Relative Strength Index (RSI) was in free fall and stood at 43.68 at the time of writing.

Chaikin Money Flow (CMF) stood at 0.11, which is a bullish indicator. However, it was also observed moving downward, which could mean that the orbit has skewed Litecoins The price may change for the worse.

Source: TradingView

While the future of LTC may look bleak, readers who are looking forward to a short LTC should also take a look. Daily Active Litecoin Address So they can place their bets more effectively.

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