From a fractal analysis perspective
There may be a price spike in the short term! ! !
Litecoin’s current upward price trend seems to be a typical reaction to market dynamics,
This typically occurs when a large number of previously inactive tokens re-enter circulation.
Notably, on March 5, the Litecoin market witnessed over 600,000 LTC tokens (worth over $60 million) return to circulation after remaining untouched for at least 5 years, the highest daily volume on record increase.
Litecoin has regained its supply over the past 5+ years of activity. The price of LTC fell by more than 19% on the day but has since rebounded by 37.25%, suggesting that the Litecoin market has been absorbing the sudden influx of dormant coins.
Today's price increase is part of the same rally.
Interestingly, the absorption of the resurrected LTC token is similar to what happened before the cryptocurrency’s 2017 bull run.
Litecoin has regained its supply over the past 5+ years of activity.
On December 1, 2017, LTC price began a correction after recovering around 150,100 LTC tokens (approximately $150 million), setting its second-highest level as of March 27, 2024. The cryptocurrency has since rebounded more than 400% to hit a new all-time high. $420.
From a fractal analysis perspective, LTC is likely to see a similar price surge in the short term.
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In the current ups and downs of the market, blindly going it alone will never bring opportunities! ! !
