Data in Litecoin (LTC) Sounds Alarm! Is It Time To Ascend?

Litecoin's (LTC) double-digit price rally last week pushed the Market Cap to Realized Value (MVRV) ratio above 30% on the 30-day moving average. This can often be a position marked by a drop in the price of LTC.
LTC Drop!
In a Twitter post on July 4, cryptocurrency analyst Sumit Kapoor stated that since 2018, every time LTC's MVRV exceeded the 30% cap, the price of LTC has dropped by an average of 41%. According to data from Santiment, this metric peaked at 36.25% on July 2 and then entered a bearish trend.
According to data from CoinMarketCap, should LTC analyst expect a price drop, which changed hands at $ 105.07 at the time of writing? Running on the Proof-of-Work (PoW) network, Litecoin has been steadily gaining momentum over the past week as investors and enthusiasts eagerly await the chain's third halving event.
This anticipation caused the network to close the second quarter of the local coin bringing the local price to $85. This signifies the exit of “weak investors” and the entry of “smart money”. An event that has caused a 20% increase in the value of LTC since then.
LTC Data!
The on-chain assessment of the altcoin's Network Profit/Loss (NPL) metric confirmed this. This metric tracks the average profit or loss of all cryptocurrencies that change addresses daily to capture periods of on-chain profit or capitulation.
According to Santiment's data, LTC's NPL fell to -44.04 million on June 30, after which the alt price started to rise. The impact of LTC's 'smart money' activity is still visible on an upside momentum.
Another important metric to consider here is the Consumed Age metric. LTC saw the Age of Consumed unexpectedly increase to 438.91 million on June 30. This indicated a significant movement of idle LTC coins to new addresses, signaling a notable change in behavior among long-term holders.
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