{"id":530663,"date":"2023-05-09T17:30:24","date_gmt":"2023-05-09T17:30:24","guid":{"rendered":"https:\/\/ktsl888.com\/?p=530663"},"modified":"2023-05-09T14:32:44","modified_gmt":"2023-05-09T14:32:44","slug":"litecoin-ltc-falls-under-80-is-it-time-to-buy-now","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/litecoin\/litecoin-ltc-falls-under-80-is-it-time-to-buy-now\/","title":{"rendered":"Litecoin (LTC) Falls Under $80, Is It Time To Buy Now?"},"content":{"rendered":"

Litecoin has continued to decline and has now slipped under the $80 level, but if a metric is anything to go by, the coin may be near the bottom.<\/p>\n

Litecoin Is Now In The MVRV Opportunity Zone<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, some altcoins, including Litecoin, are showing underbought signals after the recent price decline. The “MVRV<\/a>” (Market Value to Realized Value) is an indicator that measures the ratio between the market cap of a given asset and its realized cap.<\/p>\n

The realized cap here refers to a sort of “true” value model that says the actual value of any token in the circulating supply is the price at which it was last moved on the blockchain, and not whatever the current price of the asset is.<\/p>\n

The MVRV compares the market cap (that is, the current price) with this realized cap to estimate whether the cryptocurrency is undervalued or overvalued at the moment.<\/p>\n

When the value of this indicator rises above 1, it means the given coin may be becoming overpriced. On the other hand, a decline below this line implies underbought conditions for the asset.<\/p>\n

Related Reading: Litecoin (LTC) Price Falls After Bulls Fail To Maintain Momentum<\/a><\/div>\n

Santiment has defined its own “opportunity” and “danger” zones for the MVRV on the respective sides of the 1 mark, after entering which the asset attains a higher probability of bottoming\/topping out.<\/p>\n

Now, here is a chart that shows the divergence<\/a> of the MVRV indicator from these zones for various cryptocurrencies in the sector:<\/p>\n

\"Litecoin<\/p>\n

Looks like a lot of these coins are in the green region currently | Source: Santiment on Twitter<\/a><\/pre>\n
The way that Santiment has defined the divergence (that is, the distance from the zones) has made it so that a buying signal occurs when an asset’s MVRV divergence crosses 1, while a selling signal takes place below -1 (this orientation is the opposite of what’s usually the case in the MVRV ratio; this flip is done with the intention to make the metric more intuitive).<\/p>\n
From the chart, it’s visible that most of the assets in the market are in the positive region currently, suggesting that they are close to being underbought. A few of these, like Litecoin, have outright entered into the opportunity zone, meaning that this may be a good time to buy the asset.<\/p>\n
Related Reading: Bitcoin Price In A Turbulent Week: This Crypto Market Strategist Weighs In<\/a><\/div>\n
Litecoin has entered into this zone as its value has slipped below the $80 mark for the first time since March and has put the average investor into a state of loss.<\/p>\n
Historically, the more investors have been in a state of loss, the closer the price of the cryptocurrency has come to a bottom. This is the reason why the aforementioned opportunity zone has provided ideal points for buying into the asset.<\/p>\n
In the case of Litecoin, a bullish narrative in the form of its halving<\/a>, an event where its mining block rewards will be cut in half, is also right around the corner now, so there is an increased probability that the price could bottom out and rebound soon. It’s uncertain, however, whether the bottom is already here or if there is still some drawdown to go.<\/p>\n
LTC Price<\/h2>\n
At the time of writing, Litecoin is trading around $79, down 1% in the last week.<\/p>\n
\"Litecoin<\/p>\n
LTC has declined recently | Source: LTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
Litecoin has continued to decline and has now slipped under the $80 level, but if a metric is anything to go by, the coin may be near the bottom. Litecoin Is Now In The MVRV Opportunity Zone According to data from the on-chain analytics firm Santiment, some altcoins, including Litecoin, are showing underbought signals after the recent price decline. The “MVRV” (Market Value to Realized Value) is an indicator that measures the ratio between the market cap of a given asset and its realized cap. The realized cap here refers to a sort of “true” value model that says the actual value of any token in the circulating supply is the price at which it was last moved on the blockchain, and not whatever the current price of the asset is. The MVRV compares the market cap (that is, the current price) with this realized cap to estimate whether the cryptocurrency is undervalued or overvalued at the moment. When the value of this indicator rises above 1, it means the given coin may be becoming overpriced. On the other hand, a decline below this line implies underbought conditions for the asset. Related Reading: Litecoin (LTC) Price Falls After Bulls Fail To Maintain Momentum Santiment has defined its own “opportunity” and “danger” zones for the MVRV on the respective sides of the 1 mark, after entering which the asset attains a higher probability of bottoming\/topping out. Now, here is a chart that shows the divergence of the MVRV indicator from these zones for various cryptocurrencies in the sector: Looks like a lot of these coins are in the green region currently | Source: Santiment on Twitter The way that Santiment has defined the divergence (that is, the distance from the zones) has made it so that a buying signal occurs when an asset’s MVRV divergence crosses 1, while a selling signal takes place below -1 (this orientation is the opposite of what’s usually the case in the MVRV ratio; this flip is done with the intention to make the metric more intuitive). From the chart, it’s visible that most of the assets in the market are in the positive region currently, suggesting that they are close to being underbought. A few of these, like Litecoin, have outright entered into the opportunity zone, meaning that this may be a good time to buy the asset. Related Reading: Bitcoin Price In A Turbulent Week: This Crypto Market Strategist Weighs In Litecoin has entered into this zone as its value has slipped below the $80 mark for the first time since March and has put the average investor into a state of loss. Historically, the more investors have been in a state of loss, the closer the price of the cryptocurrency has come to a bottom. This is the reason why the aforementioned opportunity zone has provided ideal points for buying into the asset. In the case of Litecoin, a bullish narrative in the form of its halving, an event where its mining block rewards will be cut in half, is also right around the corner now, so there is an increased probability that the price could bottom out and rebound soon. It’s uncertain, however, whether the bottom is already here or if there is still some drawdown to go. LTC Price At the time of writing, Litecoin is trading around $79, down 1% in the last week. LTC has declined recently | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":530679,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[142,79647,88242,88241,2828,2831,87638],"class_list":["post-530663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-altcoins","tag-litcoin","tag-litecoin-buy-signal","tag-litecoin-mvrv-ratio","tag-ltc","tag-ltcusd","tag-mvrv-ratio"],"acf":[],"yoast_head":"\nLitecoin (LTC) Falls Under $80, Is It Time To Buy Now?<\/title>\n<meta name=\"description\" content=\"Litecoin has continued to decline and has slipped under the $80 level, but if this metric is anything to go by, the coin may be near a bottom.\" 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. 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