Litecoin

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/litecoin-faces-increased-selling-pressure/" data-wpel-link="internal">Litecoin Faces Increased Selling Pressure</a><br></p>
<p style="text-align: justify">Over the past three weeks, volatility in the <a href="https://en.coin-turk.com/bitcoin-price-analysis-will-bitcoin-rebound-above-27000-level/" data-wpel-link="internal">cryptocurrency market</a> has decreased, and Bitcoin (BTC) price traded around $70,000. This period of uncertainty caused a sideways trend in most major altcoins. However, Litecoin faced increased selling pressure.</p> 
<h2 id="critical-formation-in-litecoin">Critical Formation in Litecoin</h2> 
<p style="text-align: justify">After reaching a recent high of $89.6, the LTC price fell by 11.78% to $79. If the broader market continues its consolidation phase, will this correction deepen? Litecoin’s medium-term trend shows a bullish trend supported by an ascending trend line on the daily chart. The dynamic support, which helps buyers in a higher low formation, indicates that buyers continue to accumulate tokens at the market’s bottom.</p> 
<p style="text-align: justify">This could be a significant sign of a sustainable uptrend. At the time of writing, Litecoin price is trading at $79.57 and seeking support at the mentioned ascending trend line. The long-tailed rejection candle on the trend line may indicate continued buying and that buyers could now counterattack.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-361002 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/Litecoin.jpg" alt="" width="693" height="365"></p> 
<h2 id="expert-commentary-on-ltc">Expert Commentary on LTC</h2> 
<p style="text-align: justify">However, recent information shared by Trader Kamikaze highlighted significant movements in the Litecoin market. According to IntoTheBlock’s <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, approximately 432,070 addresses accumulated 6.67 million LTC at an average price of $82, with the purchase range varying between $81 and $83. This accumulation at these levels could indicate a significant investment.</p> 
<p style="text-align: justify">Analyst Kamikaze notes that if LTC prices return to this range, some <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are likely to sell up to their breakeven point, potentially creating selling pressure. Therefore, consolidation below $82 is expected this week.</p> 
<p style="text-align: justify">If the rising trend manages to stabilize Litecoin, a potential 11% recovery could reach the $88.7 resistance. The altcoin’s price has twice retreated from this resistance in five weeks, indicating high supply pressure for buyers. A breakout above this barrier could signal a shift in market sentiment from selling during rallies to buying during dips.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/litecoin-faces-increased-selling-pressure/" data-wpel-link="internal">Litecoin Faces Increased Selling Pressure</a></h5>

Litecoin Faces Increased Selling Pressure

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