Litecoin’s failure to break the key resistance level again – can bulls carry its lowest level?
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Litecoin faced a huge decrease as the entire encryption market suffers from intense pressure. The growing fluctuations pushed sharp price fluctuations, with LTC drop from $ 130 to $ 100 within hours. This sharp decline raised concerns among investors as it struggles with Litecoin to maintain the main support levels.
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I left uncertainty in the market to trading Litecoin at a decisive level, as the bulls try to defend $ 100 amid constant sale pressure. Failure to keep the higher price ranges indicate to weaken a bullish structure, which increases the risk of more declines.
Best Bigccads analysts a technical analysis that highlights that this is the third time that Litecoin has been returned to the level of $ 100. Historically, repeated re -tests of the main support areas increases the possibility of a collapse, adding to the landmark surrounding LTC. If a level of $ 100 fails, Litecoin may face deeper correction, as it is in line with the decline in the broader market.
Traders are now seen closely the next step for Litecoin to determine whether it can settle or whether another wave of sale will somewhat pay it. As fluctuation dominates the market, LTC remains in a pivotal moment that can dictate its prices in the coming weeks.
Litecoin continues to carry the range
Litecoin is currently trading between the main liquidity levels after months of fluctuations and uncertainty in the market. Despite the troubled price procedures, LTC has shown a relative force in recent weeks, as it has been able to get the main support levels. However, it is still struggling against great resistance, which prevents a clear direction from forming.
The main issue facing Litecoin is its inability to break the highest supply levels, while maintaining prices in a narrow range. While the bulls tried to push the LTC up, sellers at the main resistance levels have stopped frequently. Without a decisive outbreak, Litecoin is still stuck in a standardization stage, leaving merchants not sure of his next step.
Technical analysis of Bigcheseds It highlighted that the other high frame (HTF) to a range of $ 100 follows the rejection of the supply level of $ 130. This represents the third time that Litecoin has experienced the support area of $ 100, a level that was decisive in preventing deeper declines. If LTC fails to hold this area, this may lead to a more extensive correction.
The collapse is likely to be set at $ 130 or a collapse less than $ 100 the main step next step for Litecoin. Until then, traders remain cautious with the continued indication of uncertainty and frequency. The coming days will be very important in determining whether LTC can restore higher levels or face another wave of sale.
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Price procedure details: The main levels to be held
Litecoin is currently trading at $ 102 after a huge decrease in the mark of $ 130, leaving the bulls in a decisive position to defend the key levels. The last LTC has pushed to the lower limits of its trading scope, and test the decisive support that has been held several times in recent months.
To date, the price movement respect the areas of supply and demand, with resistance between 130 to 140 dollars and its support near $ 100. This channel structure has determined the Litecoin movement, keeping it in a clear -term pattern. The bulls must now retain the current level to preserve this channel thesis, which prevents more negative aspect.
EIF Litecoin emphasizes a break over $ 130, as it may indicate the beginning of a new rise, which pushed LTC towards higher levels. However, a break less than $ 100 indicates the loss of demand, which is likely to correct the deepest and increase of the sale pressure.
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Currently, traders are closely monitoring whether LTC will keep or break the current support area. The next main step is likely to come from a decisive outbreak in either direction, which paves the way for the direction of Litecoin in the coming weeks.
Distinctive image from Dall-E, the tradingView graph
