Why Litecoin is not disassembled -analytical company reveals the cause
Market Intelligence Platform Intotheblock has recently explained why Litecoin has recently been trapped in the range of $ 90 to $ 130.
Litecoin Exchange Netflow has recently followed an interesting pattern.
In the new post of X, INTOTHEBLOCK, an analytical company, discussed the patterns of Litecoin Exchange Netflow in the recent integration stage of asset prices.
Here, “Exchange Netflow” represents a warm indicator that tracks the net amount of cryptocurrency that enters or goes into a wallet associated with all centralized exchange.
If the value of this metrics is positive, it means that the inflow of this platform is more important than leakage. In general, one of the main reasons for investors to deposit coins in custody is that the purpose of sales is to be sold, so this kind of trend can be a view of the price of LTC.
On the other hand, indicators of 0 indicators suggest that the holder withdraws pure tokens from the exchange. This trend may be a sign that investors are in the accumulation stage, which can naturally have an optimistic effect on assets.
There is now a chart shared by Intotheblock -this chart shows the trend of Litecoin Exchange Netflow over the last few months.
As you can see in the graph above, the LTC Exchange Netflow has displayed interesting patterns over the last few months. When Cryptocurrency recently rose to re -test the top level of $ 130 in the integration range, deposits seemed to increase, and leaks occurred during deep.
“According to the data, Litecoin Traders uses price fluctuations, increases withdrawal and deposits to sell on spikes and buy dip,” says Analytics Firm. “This pattern helped to maintain LTC transactions in the range between 90 and 130 for about three months.”
Given this trend, cryptocurrency is likely to be difficult to get out of this range. Therefore, as long as whales continue to trade in this way. Therefore, you can keep an eye on Exchange Netflow to confirm the time when the trading behavior changes.
Currently, Litecoin is quite traded near the top level of Sideways Channel, but Exchange Netflow is still neutral (that is, the inflow maintains the balance of leaks). This is still a signal that whales are changing things or whether it is a temporary deviation.
LTC price
Most of the Cryptocurrency sectors showed that the last day was red, but Litecoin showed a quarter when the price rose almost 3%to $ 127.
