CandleFocus Litecoin Price Forecast: Whales invest $950M in 73-day buying spree amid LTC ETF approval rumours
2024-11-27
Author: Content Editor
The price of Litecoin has experienced a significant drop from its recent high of $106, falling to $87.90 on Tuesday. However, on-chain data shows that large cryptocurrency investors have been buying Litecoin consistently for the past 73 days. Following the announcement of the departure of the US SEC Chair, altcoin markets, including Litecoin, saw gains. While speculative demand may have contributed to Litecoin's recent rally, the continuous accumulation of Litecoin by whales suggests a bullish outlook and potential scarcity. The price of Litecoin is currently consolidating at around $90, with support levels at $85. Resistance lies at $101, and a breach below $85 could lead to further downside, while a rebound may target recovery at $96 and $101.
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