• Litecoin (LTC) Price Eyes $90 Rebound Following 8% Dip Amid Surge in New Wallets
  • 300,000 New LTC Wallets have been created, Signaling a Potential Major Upswing

Litecoin (LTC) has seen its price tumble by 8% over the past 10 days, hitting a daily low of $82.57 on May 29. However, a surge in new wallets suggests that LTC could be on the verge of a significant rebound.

Litecoin Price Dips 8% After Ethereum ETF Frenzy

The cryptocurrency market initially surged with the announcement of imminent Ethereum ETFs approval on May 20. Yet, the bullish momentum waned after the SEC’s official approval on May 23, leading to a consolidation phase across the market. Litecoin, along with other projects, struggled to gain traction as investor attention shifted towards Ethereum and its DeFi ecosystem.

On-Chain Data Reveals Surge in New LTC Wallets

Despite the recent price dip, Litecoin is witnessing a notable increase in new wallet creations. On-chain data indicates that 300,000 new LTC wallets have been created over the past week, bringing the total to 8.21 million wallets. This is a significant rise from 8.17 million wallets recorded on May 21.

The influx of new wallets highlights a growing positive sentiment within the Litecoin community, even amid market consolidation. The data suggests that new investors are capitalizing on the recent price dip, indicating a potential rebound.

Litecoin (LTC) Price Forecast: Potential Rebound to $90

Currently trading at $83.76, Litecoin’s price action shows potential for a rebound. The Bollinger Bands technical indicators suggest that the bulls are maintaining firm

control above the critical support level at the 20-day SMA price of $83.59. If investors who bought LTC around this support level double down on their positions, Litecoin could rebound to $90 as predicted.

However, there is also the risk that if this key support level fails, the market-wide consolidation phase could push LTC prices down to $75.

Market Sentiment and Network Growth

The rapid increase in new LTC wallets indicates strong network growth and positive sentiment among investors. This growth trend is a bullish signal, suggesting that many are anticipating a potential price recovery. The entry of 300,000 new wallets demonstrates that new participants are entering the market, likely hoping to benefit from a future price increase.


Despite the recent 8% dip in Litecoin’s price, the surge in new wallets and strong network growth suggest that LTC is poised for a rebound. If the critical support level holds and investors continue to show confidence, Litecoin could rise to $90 in the near term. However, caution is advised, as a break below the support level could lead to further declines. The next few days will be crucial in deterLitecoin (LTCirection of Litecoin’s price movement.

With the current positive sentiment and increasing number of new wallets, Litecoin appears to be in a strong position for a potential rebound. Investors and traders should keep a close eye on support levels and market trends to make informed decisions.