Will the Movement of Litecoin Whales Raise the Litecoin Price?

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Will the Movement of Litecoin Whales Raise the Litecoin Price? The crypto space is looking very positive as Bitcoin price gained strength and moved higher to hit the $17,500 target. Meanwhile, Lite coin, which is also known as the version of Bitcoin, also looks like it will launch a strong rally soon.

With the resumption of the uptrend, most of the altcoins can also participate in making a significant difference.

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The collection of whales is one of the main indicators of the beginning of a strong advance. Litecoin whales, who sleep for a long time, not only wake up but also start to act. Initially, the network upgrade had no effect on the price of LTC, but recent developments may lead to a reversal of the digital currency. According to the on-chain research platform Santiment, Litecoin whales have gathered well, which is the highest level since June 2017.

Litecoin recently made headlines after large amounts of LTC were withdrawn from long-inactive wallets. On the other hand, the price of Litecoin maintained its trend along a straight line with little fluctuations while the volume remained low. However, the price is maintaining a parabolic pattern to recover the lost levels above the triple digit level.

The price seems to maintain a horizontal consolidation for a few more days to come and propel even higher to reach $100 before the end of 2022. However, the possibility of returning to the bottom support close to $50 and wearing very high, which should trigger this. maximum recovery later.

All in all, the price of Litecoin (LTC) seems to be under the influence of the bulls and therefore it is possible to register a significant increase after a small decline.

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