Recent changes in the cryptocurrency market have had a significant impact on Litecoin (LTC), although not in terms of price performance. Instead, there has been an important shift in the net position of long-term holders.

Glassnode’s Findings

Glassnode's analysis shows that when the hodler net position change is positive, it indicates accumulation, while a negative figure implies profit-taking. On April 27, long-term holders bought 57,095 LTC, marking a shift from the negative trend seen in previous weeks. This change suggests that LTC may not necessarily be losing its position among rising altcoins in the near future.

The consistent net position change since April 5 indicates that Litecoin might be gearing up for a possible challenge against downward expectations and a potential upward trend. Currently, LTC is trading at $18.37, showing an 18.42% decrease in the last week. Experts are speculating a short-term rise to $110, with the possibility of further growth in the months ahead.

Current Litecoin Data

An on-chain metric monitoring the number of idle cryptocurrencies traded within a day has shown a decrease in 365-day idle circulation, implying long-term holders are holding onto their tokens instead of selling. The average dollar investment age (MDIA) dropping to 348 suggests a potential bull run approaching, as lower MDIA values indicate a bullish trend. However, it is important to note that any upward movement in LTC could face corrections at certain points. Experts warn of a possible drop below $84 before LTC experiences significant growth.

This analysis was originally posted on COINTURK NEWS under the title Significant Shifts in Litecoin’s Market Dynamics.