Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
coinpedia 2025-01-30 15:39:44

Litecoin Overvalued as MVRV Declines, Despite Price Surge: What’s Next for LTC Price?

Litecoin Overvalued as MVRV Declines, Despite Price Surge: What’s Next for LTC Price?

The post Litecoin Overvalued as MVRV Declines, Despite Price Surge: What’s Next for LTC Price? appeared first on Coinpedia Fintech News After the Federal Reserve decided to keep interest rates unchanged, the crypto market has maintained steady growth. Among these, Litecoin stands out in the altcoin sector, recording significant double-digit gains in just a few hours. This surge has impacted several on-chain metrics, suggesting that Litecoin’s price is currently overvalued. This could lead to strong selling pressure if LTC price struggles in breaking through resistance levels. Litecoin’s MVRV Declines Despite Price Surge Litecoin faced increased buying demand following rumors of a Litecoin-based exchange-traded fund (ETF). On Polymarket, a decentralized prediction market, crypto bettors have placed an 87% chance that the US Securities and Exchange Commission (SEC) will approve a Litecoin-based exchange-traded fund (ETF) this year. The hopes among investors increased after the SEC began a public comment period for the proposed Canary Litecoin ETF. The public has 21 days from the announcement to submit feedback, which will help the SEC decide whether to approve the ETF. Also read: Why Litecoin Price is Up Today: Key Factors Driving Its 14% Surge After the comment period, the SEC has 45 days to make a decision, which can be extended to 90 days if needed, to approve, deny, or further review the ETF. Due to this news, there’s an increased buying pressure in the LTC price chart. Data from IntoTheBlock indicates that the MVRV ratio for Litecoin is falling, even though the price of LTC is rising. Currently, the ratio is at 1.23, suggesting that the last realized value is nearing LTC’s market value. A declining MVRV ratio amidst a price surge might suggest that although prices are increasing, the value being realized by holders does not support this price increase, indicating potential overvaluation. Eric Balchunas, an ETF analyst at Bloomberg, highlighted that this is the first altcoin ETF to get this far, showing significant progress in the approval process. However, it’s still unclear if the SEC will speed up its decision or use the entire 240-day review period. What’s Next for LTC Price? Litecoin price has been facing increasing buying demand as buyers pushed the price from the low of $110 to a recent high of $134. Currently, buyers are holding the price above 23.6% Fib level to stabilize the momentum within a buying zone. As of writing, LTC price trades at $131.6, surging over 17.1% in the last 24 hours. The rising 20-day EMA at $119 and an RSI over 69 suggest that buyers currently have the advantage. If LTC breaks and closes above the downtrend line, it could set off a rally towards $150, and possibly extend to $165. On the other hand, if the price sharply reverses from the downtrend line, it means that sellers are still influential at higher prices. This could lead them to try pushing the LTC/USDT pair back down towards the 50-day SMA at $120.

Most Read News



Cryptohopper
Market Cap
24h Vol
55.82%
Bitcoin Share
787
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.