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- Litecoin is entering an early bullish phase after leaving its long-term accumulation zone since August 2024.
- Eight months of correction have ended, signaling Litecoin’s transition into a new market cycle with maximum growth potential.
Alan Santana, a renowned crypto analyst, posted on TradingView on Litecoin’s (LTC) slow rebound and present current bullish trend. Santana claims that the market sank in June 2022 and then had a higher low in August 2024. Since then, Litecoin has demonstrated consistent expansion from accumulation to the early phases of a bull market.
Early Bullish Zone Presents Promising Opportunities for Litecoin Accumulators
Santana underlines that although Litecoin stays in a positive zone, it is still early and offers accumulation chances below $100 for long-term investors. But unless a significant corrective swing reactivates them, he observes that the most advantageous pricing could now be from the past.
With only two months left in the year to profit from this trend, he also forecasts that purchasing possibilities towards the end of 2024 could be favorable.
More generally, the ultra-bullish momentum of Bitcoin has affected Litecoin’s performance, especially in relation to a clear increase in trade volumes. After eight months of correction, Santana notes that this week Litecoin is projected to see the largest buy volume since March 2024, a major sign of revived investor enthusiasm.
“Greets the bull market. Very early; plan for maximal growth, Santana said, stressing Litecoin’s chances to generate significant returns in the next months.
Meanwhile, LTC is swapped hands at about $82.84 at the time of writing, a 16.92% rise over the last 7 days. But the coin seems to be sideways the last 24 hours, maybe getting ready for its next action.
Beside that, CNF previously noted the announcement of Wrapped Litecoin (WLTC) tokens on the Litecoin network. Working with Coinut, a crypto trading platform, these tokens were created in line with Litecoin’s aims to grow its ecosystem and investigate new use cases inside decentralized finance (DeFi).
