Cryptocurrency
Litecoin's Price Struggles Amidst Whales' Uncertainty
Wednesday. July 24 at 12:30 AM
1 min. readLitecoin's price has been stagnant for the past two months, facing challenges in its recovery efforts. The withdrawal of whales from the market adds to the uncertainty, potentially impacting altcoins negatively. Investor sentiment towards Litecoin is wavering as market signals remain mixed. The Average Directional Index (ADX) for Litecoin indicates a weakening uptrend, although it remains above the critical threshold of 25.0. The reluctance of LTC investors, coupled with bearish behavior from whales, has hindered price growth. The downtrend in Litecoin's price, along with decreased whale transactions, suggests a possible further decline to $69 or even $61. However, the coin's position above the 23.6% Fibonacci Retracement level offers some support. If LTC can surpass the downtrend and reach $80, it may signal a bullish reversal. It's essential to conduct thorough research and seek professional advice before making any financial decisions in the volatile crypto market.