Santiment, a crypto market analysis platform that focuses on on-chain and social metrics, has indicated the possibility of a forthcoming rally in Litecoin. In a recent communication on X, Santiment emphasized the significant increase in active addresses on the Litecoin network, reaching 704,000 in June, a substantial surge from the average of approximately 345,000 addresses observed throughout May. This surge in active addresses, combined with Litecoin's Relative Strength Index (RSI) dropping to an 'opportunity zone,' suggests a potential upward movement in LTC's price. The surge in active addresses and the RSI indicator's position in the 'opportunity zone' could serve as indicators of a potential price bounce for LTC. The analysis by Santiment implies a positive outlook for Litecoin's price trajectory in the near future, based on the observed increase in network activity and the technical analysis of the RSI indicator.
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