{"id":540861,"date":"2023-07-03T15:00:59","date_gmt":"2023-07-03T15:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=540861"},"modified":"2023-07-03T14:27:20","modified_gmt":"2023-07-03T14:27:20","slug":"historical-litecoin-bearish-signal-correction-incoming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/historical-litecoin-bearish-signal-correction-incoming\/","title":{"rendered":"Historical Litecoin Bearish Signal Goes Off, Correction Incoming?"},"content":{"rendered":"

On-chain data shows a Litecoin indicator is currently showing a pattern that has historically been bearish for the cryptocurrency’s price.<\/p>\n

Litecoin 30-Day MVRV Ratio Has Registered A Surge Recently<\/h2>\n

As pointed out by an analyst on Twitter<\/a>, the 30-day MVRV ratio has spiked towards the 35% mark recently. The “Market Value to Realized Value (MVRV) ratio<\/a>” here refers to an indicator that measures the ratio between the Litecoin market cap and its realized cap.<\/p>\n

The “realized cap<\/a>” here is a capitalization model that aims to find a sort of true value for the asset. According to this model, the true value of any coin in circulation is not the current spot price, but the price at which it was last moved\/transferred on the blockchain.<\/p>\n

As the MVRV compares the market cap (that is, the spot price) with the realized cap (the “real” value of the asset), it can tell us whether the current price is overinflated or not.<\/p>\n

When the value of the MVRV is greater than 1, it means that the market cap is larger than the realized cap currently. Naturally, such a trend can imply the asset may be overpriced right now.<\/p>\n

On the other hand, values of the indicator below this threshold suggest the cryptocurrency could be undervalued at the moment as its realized cap is higher than the market cap.<\/p>\n

Related Reading: Bitcoin Sharks & Whales Show Strong Buying, Rally To Continue In July?<\/a><\/div>\n

Now, here is a chart that shows the trend in the 30-day Litecoin MVRV ratio over the last few years:<\/p>\n

\"Litecoin<\/p>\n

Looks like the 30-day value of the metric has observed a sharp increase in recent days | Source: Ali on Twitter<\/a><\/pre>\n
Here, the MVRV ratio is displayed in terms of the percentage difference between the market cap and the realized cap (meaning that the 0% line plays the role of the 1 mark in this version of the indicator).<\/p>\n
As shown in the above graph, the 30-day Litecoin MVRV ratio has registered some rapid growth recently. This jump in the indicator has come as the latest rally<\/a> in the cryptocurrency has occurred, which has now taken the price above the $110 level.<\/p>\n
The metric has now hit a value of 35%, which implies that the market cap is currently 35% more than the realized cap. Historically, the indicator’s value rising above the 30% level has been a sign that the asset is becoming notably overpriced.<\/p>\n
Related Reading: Institutional Investors Flock To Bitcoin: Are We Witnessing A Paradigm Shift?<\/a><\/div>\n
From the chart, it’s visible that the cryptocurrency’s price has generally always registered a correction whenever this pattern in the 30-day MVRV ratio has formed. The degree of this price drop has varied, but on average it has been around 30% to 40%.<\/p>\n
It now remains to be seen if this historical pattern would continue to hold true this time as well. Naturally, if it does hold, then Litecoin would register a significant drop in the coming days.<\/p>\n
LTC Price<\/h2>\n
At the time of writing, Litecoin is trading around $109, up 23% in the last week.<\/p>\n
\"Litecoin<\/p>\n
LTC has seen some rapid uptrend recently | Source: LTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows a Litecoin indicator is currently showing a pattern that has historically been bearish for the cryptocurrency’s price. Litecoin 30-Day MVRV Ratio Has Registered A Surge Recently As pointed out by an analyst on Twitter, the 30-day MVRV ratio has spiked towards the 35% mark recently. The “Market Value to Realized Value (MVRV) ratio” here refers to an indicator that measures the ratio between the Litecoin market cap and its realized cap. The “realized cap” here is a capitalization model that aims to find a sort of true value for the asset. According to this model, the true value of any coin in circulation is not the current spot price, but the price at which it was last moved\/transferred on the blockchain. As the MVRV compares the market cap (that is, the spot price) with the realized cap (the “real” value of the asset), it can tell us whether the current price is overinflated or not. When the value of the MVRV is greater than 1, it means that the market cap is larger than the realized cap currently. Naturally, such a trend can imply the asset may be overpriced right now. On the other hand, values of the indicator below this threshold suggest the cryptocurrency could be undervalued at the moment as its realized cap is higher than the market cap. Related Reading: Bitcoin Sharks & Whales Show Strong Buying, Rally To Continue In July? Now, here is a chart that shows the trend in the 30-day Litecoin MVRV ratio over the last few years: Looks like the 30-day value of the metric has observed a sharp increase in recent days | Source: Ali on Twitter Here, the MVRV ratio is displayed in terms of the percentage difference between the market cap and the realized cap (meaning that the 0% line plays the role of the 1 mark in this version of the indicator). As shown in the above graph, the 30-day Litecoin MVRV ratio has registered some rapid growth recently. This jump in the indicator has come as the latest rally in the cryptocurrency has occurred, which has now taken the price above the $110 level. The metric has now hit a value of 35%, which implies that the market cap is currently 35% more than the realized cap. Historically, the indicator’s value rising above the 30% level has been a sign that the asset is becoming notably overpriced. Related Reading: Institutional Investors Flock To Bitcoin: Are We Witnessing A Paradigm Shift? From the chart, it’s visible that the cryptocurrency’s price has generally always registered a correction whenever this pattern in the 30-day MVRV ratio has formed. The degree of this price drop has varied, but on average it has been around 30% to 40%. It now remains to be seen if this historical pattern would continue to hold true this time as well. Naturally, if it does hold, then Litecoin would register a significant drop in the coming days. LTC Price At the time of writing, Litecoin is trading around $109, up 23% in the last week. LTC has seen some rapid uptrend recently | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":540876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10,88546,88547,88548,2828,2831],"class_list":["post-540861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-litecoin","tag-litecoin-bearish-signal","tag-litecoin-correction","tag-litecoin-mvrv","tag-ltc","tag-ltcusd"],"acf":[],"yoast_head":"\nHistorical Litecoin Bearish Signal Goes Off, Correction Incoming?<\/title>\n<meta name=\"description\" content=\"On-chain data shows a Litecoin indicator is currently showing a pattern that has historically been bearish for the cryptocurrency's 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Historical Litecoin Bearish Signal Goes Off, Correction Incoming?","url":"http:\/\/wncen.com\/news\/litecoin\/historical-litecoin-bearish-signal-correction-incoming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/litecoin\/historical-litecoin-bearish-signal-correction-incoming\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/kanchanara-xD4eg7U6MM8-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/kanchanara-xD4eg7U6MM8-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["litecoin","litecoin bearish signal","litecoin correction","litecoin mvrv","ltc","ltc\/usd"],"dateCreated":"2023-07-03T15:00:59Z","datePublished":"2023-07-03T15:00:59Z","dateModified":"2023-07-03T15:00:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Historical Litecoin Bearish Signal Goes Off, Correction Incoming?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/historical-litecoin-bearish-signal-correction-incoming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/historical-litecoin-bearish-signal-correction-incoming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-xD4eg7U6MM8-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-xD4eg7U6MM8-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"litecoin\",\"litecoin bearish signal\",\"litecoin correction\",\"litecoin mvrv\",\"ltc\",\"ltc\\\/usd\"],\"dateCreated\":\"2023-07-03T15:00:59Z\",\"datePublished\":\"2023-07-03T15:00:59Z\",\"dateModified\":\"2023-07-03T15:00:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/kanchanara-xD4eg7U6MM8-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/540861"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=540861"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/540861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/540876"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=540861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=540861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=540861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}