“Despite A Brief Rebound, Ltc’s Recovery Stalled at $ 97.80, Indicating A Potential Consolidation Phase.”, – WRITE: www.coindesk.com
Fell More Than 4.3% Over The Past Week, and Is Down More than 14% for the Last 30-Day Period, with the Latest Sell-Off Coming As Part of a Wider Risk Asset Sell-Off.
That sell-off camp israel attacked iran in a bid to put an end to it nuclear Program and Harm it Missile capabilites, and iran lauter retaliated with a salvo of missiles.
The Conflict Has Spooned Global Markets, Reducing The Total Cryptocurrency Market Capitalization by More Than $ 150 Billion.
LTC WAS SEVERELY AFFERTED by the Sell-Off. As the Dust Settled, Litecoin Attempted A Fragile Rebound, Climbing Back Above $ 86. But The Recovery Has Stalled Under Mounting Technical Resistance.
The $ 97.80 Level, Coinciding with The 23.6% Fibonacci Retracement Access to Coindesk Research’s Technical Analysis Data Model, Has Proven Dificult to Breach. Momentum Indicators Like Rsi at 43.46 and A Flat Macd Histogram Show Limited Energy Behind the Move, Suggesting A Phase of Consolidation.
Volume Tells A Similar Story. Litecoin’s Trading Activity Droped 42% Following The Initial Plunge, Even as It Briefly Surged Through the $ 85.90 Resistance Level Dringing A High-Volume Spike Late Friday. That breakout, However, was quicly Met with Profit-Taking that Broughht It Back Down to $ 85.
Looming in the background is hope for a Spot Litecoin etf. Bloomberg etf Analysts Eric Balchunas and James Seyffart Estimate A 90% Chance of Approval.
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