Amid the constant uncertainty in the market, while the majority of encrypted currencies are in a price recovery, Litecoin (LTC) is preparing for a significant decrease in prices. The potential reason for this descending speculation is the formation of negative prices and the declining feeling of merchants, as the analysis company reported on the series Coinglass.
Current price momentum
LTC is currently trading near $ 127 and has witnessed a decrease in prices by more than 6 % over the past 24 hours. During the same period, the trading volume decreased by 23 % due to the declining price momentum, indicating a decrease in participation from merchants and investors compared to previous days.
Litecoin (LTC) Technical Analysis and Prick
According to expert technical analysis, LTC seems to be dirty as it has been moving in the pattern of a parallel channel between $ 95 and $ 141 since November 2024. Despite the morale of the descending market in the past few days, the LTC price has risen about 38 %, as it rose from 95 dollars to 141 dollars. However, he is now suffering from the pressure pressure due to the date of the current prices and morale in the market.
Based on historical patterns, if LTC fails to break the level of $ 141, there is a strong possibility that can decrease by 25 % to reach the support level of $ 95. Currently, the original is traded above 200 SIA moving average (EMA) on the daily time frame, indicating that LTC is in a bullish direction.
Mixed standards on the series
When examining the morale of the current market and the price at the level of reflection, it appears that traders inside the day are betting on the landfill, as stated by the Analysis Company on the series Coinglass.
Data shows from the stock exchange map that traders who are betting on the short side have been overwhelmed at the level of $ 141.5 and established 67 million dollars from short centers last week. Meanwhile, merchants who bet on the long side appear to be exhausted, after they have built long jobs worth only $ 21 million.
These excessive positions in the feelings of both short and long traders reflect, as some believe that the price will not be separated from this level. If so, these positions will be filtered.
Although LTC’s dull expectations, investors and their long -term investors appear to accumulate the distinctive symbol. Immediate flow/external flow data reveals that exchanges have witnessed an external flow of $ 9.41 million of LTC codes during the past 24 hours, indicating a possible accumulation.
When combining these scales on the series and technical analysis, it appears that the short -term players are from relegation, and they expect the price to decrease in the coming days. Meanwhile, long -term holders seem to benefit from low prices and largely accumulate a distinctive symbol.
