Litecoin appears to be stuck in a rut characterized by low interest in the coin. However, data indicates a shift towards HODLing that could...
gold. However, this digital silver has been lending itself to the bears more often lately, with weak bullish attempts here and there.
Its brief dip below $50 signaled that it broke below a major support level that remained unbroken since November 2022. Short-term profit-taking has been contributing to bullish suppression. Litecoin’s ownership stats revealed that this suppression might be running out of steam. Meanwhile, the number of cruisers or swing traders dropped from 2.68 million at the start of 2024 to 1.25 million addresses more recently.Retail traders had a more modest drop from 564,000 to lightly above 488,000 addresses. These changes indicated a growing focus on long-term HODLing as prices dip lower.
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