Litecoin cannot break the key resistance level again. Can Bulls maintain the lowest scope?
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Litecoin faced a tremendous decline as he experienced the overall Crypto Market experience. As volatility increased, LTC plunged from $ 130 to $ 100 in a few hours, resulting in a sharp change in price. This steep decline raised concerns among investors as a struggle for lighting to maintain the level of support.
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Market uncertainty has left the recall trading as an important level, and Bulls has tried to defend $ 100 under continuous sales pressure. If the higher price range is not increased, the stronger structure is weakened, increasing the risk of further reduction.
Bigcheds, the chief analyst, shared the technical analysis that Litecoin was thrown to the third $ 100 level. Historically, repeated re -tests of major supports increase the possibility of failure and are added to the weak sentiment surrounding LTC. If the $ 100 level is not maintained, Litecoin can match deeper corrections with a wider market downturn.
Traders now look closely at the following movements of Litecoin and determine whether it can be stabilized or if the waves of other sales lower it. As volatility dominates the market, LTC remains in a pivotal moment in which it can direct price behavior in the next few weeks.
Litecoin continues to maintain the range
Litecoin is currently trading in the market between months of volatility and uncertainty in the market. Despite the turbulent price measures, LTC has shown a relative strength in maintaining its main support level in recent weeks. But it is fighting against a significant resistance and preventing the formation of obvious trends.
The main problem faced by Litecoin is that it is not possible to increase the supply level and maintain the price measures in a solid range. Bulls tried to raise the LTC higher, but the main resistance sellers repeatedly stopped exercising. Without decisive evacuation, Litecoin is trapped in an integrated stage, and traders are not sure of the next movement.
The technical analysis of Bigcheds emphasized that another high -level frame (HTF) in the range of $ 100 followed the rejection of the $ 130 supply level. This is the third test of $ 100 for Litecoin, which is important for preventing deeper reductions. If the LTC does not maintain this area, a more extended correction may occur.
Brake out of $ 130 or more or less than $ 100 will determine the following main movements of Litecoin. Until then, traders are cautious as price behavior continues to inform uncertainty and uncertainty. On the coming days, it is important to determine whether LTC can recover higher levels or to face the wave of other sales pressure.
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Price behavior details: Main level to hold
Litecoin is currently trading at $ 102 after a huge drop in $ 130, leaving Bulls in an important position to defend its main level. The recent decline has been pushed by LTC to the lower limit of transactions and has tested important support many times in recent months.
So far, Price Action has respected all supply and demand areas, and has been supported by about 130-$ 140 and near $ 100. This channel structure defined the movement of Litecoin and maintained a clear range bound pattern. The bull now needs to maintain the current level to maintain this channel paper and prevent further drops.
EIF Litecoin can check the brake out of more than $ 130 and know the beginning of a new strong trend, allowing LTC to be higher. But rest of less than $ 100 shows demand losses, causing deeper modifications and increasing sales pressure.
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Currently, the trader is closely seeing whether the LTC will hold or destroy the current area. The next main movement will come from the decisive brake out in any direction.
DALL-E’s main image, TradingView chart
