With the rebound of data encryption market and stock market, the price of Lite Coin has already recovered in the past few days. The buying and selling price of LTC on Tuesday was US $61.74, about 52% higher than the lowest level this year. Its valuation exceeds $4.4 billion.

Anxiety and Greed Index

The price of Lite Coin and other digital currencies has bounced back recently, and now there are signs of greed in the market. For example, the US dollar index has dropped to about US $103 from its highest point of US $109.3 so far this year. The decline of the US dollar shows that investors have already accepted the psychological risk.

In addition, the high-profile Volatility Index (VIX) has dropped to its lowest level in several months. This is also a sign that market changes have eased slightly.

In addition, the anxiety and greed index tracked by CNN Money gradually rose from the extreme panic level to the current 52 points. This is also a sign that investors are a bit greedy.

Historically, stock and digital currency prices have tended to outperform at the greedy stage of the sales market. It also answered the main reasons why the Nasdaq 100 index was close to withdrawing from the bear market of the stock market.

In addition, LTC has already risen rapidly because investors predicted that the sales earlier this month had dissipated. First of all, after the collapse of Celsius, Voyager Digital and Three Arrows Capital, the infectious diseases that most people expected did not occur.

In addition, the information on the chain shows that in the past few days, the popularity of the Litecoin network has continued to grow. For example, the total number of LTC addresses has increased dramatically in the past few weeks, although it is still much smaller than the peak of 2021.

Price Forecast of Lite Coin

The daily curve shows that LTC prices have rebounded strongly in the past few weeks. This recovery originated from the fact that the coin fell to the bottom of US $40.59 this year. It has managed to be slightly higher than the 25 day and 50 day moving average systems, while MACD has already moved to the neutral line. These daily averages even show a rising cross pattern.

As a result, the two sides set the key resistance point at US $92.11, the lowest level since April this year, and the currency may continue to rise. A support of less than $50 will invalidate the upside view.