Litecoin Price Spikes 40% in Short Squeeze; Uptrend Depends on Long-Term Holders

Litecoin (LTC) price jumped 40% in one day recently, driven by a surge of short-term traders rather than long-term holders

The number of LTC held by traders (holding less than 1 month) spiked 41.96% in one month to 11.13 million LTC

Long-term holders decreased from 45 million LTC to 42.5 million LTC during the same period

LTC's RSI shot up to 71, indicating overbought conditions and potential for a price correction

LTC's long-term 200-day EMA is below short-term EMAs, signaling a potential continued uptrend in prices