Litecoin (LTC) has faced a continuous challenge over the past three months, and has failed to break the main resistance at $ 136. Despite the recent attempts to violate this barrier, Altcoin struggled to keep upward momentum.
While some believe that the penetration is imminent, the lack of investor support indicates that the price may face a greater decrease.
Litecoin investors are not supportive
Litecoin holders (LTHS) has not recently shown great bullish behavior, according to the Mean Coin Age (MCA). The lack of a noticeable rise indicates the minimum accumulation, which leaves the market stagnant. If the MCA index will show a great occurrence, it may indicate that LTHS sells their property, which will be a landmark. However, since this does not happen, Litecoin may avoid a sharp collapse but is still struggling to attract investment in the long run.
Without a stronger condemnation than LTHS, Litecoin may continue its side movement without a large gathering. This accumulation is minimal by investors who usually bore long -term trends leave Altcoin vulnerable to staying stuck in the same range without meaningful progress. Until LTHS shows more attention, it seems that great gains for Litecoin are unlikely.
The total momentum of Litecoin is greatly affected by the Chaikin Money Flow (CMF), which has struggled to stay over the zero line in the past two months. Litecoin’s deficiency has hindered the gathering capacity. Although CMF showed some signs of upward movement recently, it has not yet indicated a continuous rise, leaving Altcoin at a state of frequency.
Since the beginning of the year, the price of Litecoin has been relatively fixed, with no flows in the strong market that contributes to its stagnation. The CMF constant struggle for a zero fracture reflects the frequency in the broader market towards Litecoin. While the last height provides some hope, whether this momentum can continue.
LTC price faces a major barrier
Currently, Litecoin is trading at $ 129, which reflects a 13 % increase over the past 24 hours. This height has approached the decisive resistance of $ 136, which has struggled to breach over the past three months. The current price movement indicates that Litecoin may try another gathering, but the same factors that caused previous failure.
If Litecoin fails to violate $ 136 resistance, the price may decrease to $ 117, with more support at $ 105. The decline without these levels indicates a continuation of the declining direction, while maintaining the litecoin stuck under the main resistance for a long time.
If Litecoin succeeds in breaking the resistance of $ 136 and its heart to support, it may follow it a large crowd. The next goal will be $ 147, under the Psychological Psychological Point of $ 150. Getting this goal to nullify the downward expectations and can put Litecoin on a road towards the highest prices.
Disintegration
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