• Litecoin halving still not yielding much excitement with the narrowing countdown.
• LTC yields to sell pressure after recent rally due to short-term profit-taking.

July is almost here, which means Litecoin’s upcoming halving is less than 5 weeks away. Halvings often have a positive impact on the network’s native cryptocurrency. But will that still be the case for LTC?

 Is your portfolio green? Check out the Litecoin Profit Calculator

The good news is that Litecoin on-chain data reveals that a significant proportion of LTC holders are hodling their coins. This is evident in Litecoin’s mean coin age which just reached a new 3-month high. This confirms that a percentage of recently acquired LTC coins have not been moved during the same period.

Litecoin’s 90-day MVRV ratio recently attempted to bounce off its lower range. This action was aided by the upside it experienced since mid-June. However, LTC’s price action cooled down in the last 5 days, and traded at $85 at the time of writing.

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Author: Michael Nderitu

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