Litecoin faced a massive drop while the entire cryptography market is intense sales pressure. The increase in volatility has resulted in net price oscillations, the SLD plunging from $ 130 to $ 100 in a few hours. This sharp decline has raised concerns among investors while Litecoin finds it difficult to maintain key support levels.
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The uncertainty of the market has left Litecoin trading at a crucial level, the bulls trying to defend $ 100 in the middle of the persistent sales pressure. The failure to maintain above highest price ranges suggests a weakened upward structure, increasing the risk of additional declines.
Top Bigched analyst has shared a technical analysis stressing that this is the third time that Litecoin has been donated to $ 100. Historically, repeated repetitions of key support areas increase the probability of a breakdown, adding to the bearish feeling surrounding the LTC. If the level of $ 100 does not hold, Litecoin could face a deeper correction, aligning with the slower slowdown.
Traders are now looking closely Litecoin’s next movement To determine if it can stabilize or if another wave of sales will push it lower. With the dominant volatility the market, the LTC remains at a pivotal moment which could dictate its price action in the coming weeks.
Litecoin continues to hold the range
Litecoin is currently negotiated between key liquidity levels after months of volatility and uncertainty on the market. Despite its turbulent price action, the LTC has shown a relative force in recent weeks, managed to have key support levels. However, he continues to fight against significant resistance, preventing a clear tendency from forming.
The main problem confronted with Litecoin is its inability to go beyond supply levels, keeping the price action in a tight range. While the bulls have tried to push the higher LTCs, sellers at major resistance levels have repeatedly blocked the momentum. Without a decisive break, Litecoin remains stuck in a consolidation phase, leaving the uncertain merchants of his next decision.
Bigcheds technical analysis pointed out that another return in high time (HTF) to the $ 100 range followed a rejection of the supply level of $ 130. This marks the third time that Litecoin has tested the $ 100 support area, a level that has been crucial to prevent deeper drops. If the LTC does not hold this area, it could trigger a more extensive correction.
A rupture greater than $ 130 or a ventilation of less than $ 100 will probably determine the next major Movement of Litecoin. Until then, traders remain cautious because the action of prices continues to report uncertainty and indecision. The next few days will be essential to decide whether LTC can recover higher levels or face another wave of sales pressure.
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Price action details: Key levels to maintain
Litecoin is currently negotiated at $ 102 after a massive drop in the $ 130 mark, leaving the bulls in a critical position to defend key levels. The recent decrease has pushed the LTC to the lower limit of its commercial range, testing crucial support which has been held several times in recent months.
Until now, the price action has respected both the supply and the demand zones, with a resistance of around $ 130 to $ 140 and a support nearly $ 100. This channel structure has defined the Litecoin movement, keeping it in a clear beach pattern. Bulls must now maintain the current level to maintain this channel thesis, preventing more.
The EIF Litecoin confirms an escape greater than $ 130, it could point out the start of a new raised trend, pushing the LTC to higher levels. However, a rupture of less than $ 100 would indicate a loss of demand, probably triggering a deeper correction and increased the sale pressure.
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For the moment, merchants are looking closely if the LTS will hold or break its current support zone. The next major movement will probably come from a decisive escape in both directions, preparing the field for the tendency of Litecoin in the coming weeks.
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