Litecoin Remains In Fear Zone As Weekly Whale Interest Drops! Here’s The Next Level For LTC Price
The market witnessed a comeback in volatility this week, with Bitcoin (BTC) surpassing the $37,000 mark. Yet, many prominent altcoins didn't fully benefit...
- Litecoin (LTC) has not fully benefited from the recent volatility in the market, remaining around $70 despite improvements in its on-chain metrics.
- The loss of support from whales and the upcoming Federal Open Market Committee (FOMC) meeting have contributed to the bearish sentiment surrounding LTC.
- Whale transactions have decreased, with a majority of Litecoin holders currently facing losses.
- An upward price movement might lead to increased selling activity as holders seek to minimize their losses.
- The next steps for LTC price include a potential relief rally if buyers can maintain the price above $77, but a bearish movement is expected if there's a drop below $65.
The sentiment surrounding Litecoin (LTC) is currently bearish due to the loss of support from whales, declining interest, and upcoming events like the FOMC meeting and enforcement actions by the DOJ.