Litecoin In Uphill Battle: Strong Resistance Might Block Recovery

Litecoin In Uphill Battle: Strong Resistance Might Block Recovery


On-chain data suggests Litecoin potentially has a major amount of resistance waiting just ahead, making a recovery more difficult for LTC’s price.

Litecoin Has A Large Supply Wall Waiting At Levels Just Ahead

As pointed out by X user Trader Kamikaze using data from the market intelligence platform IntoTheBlock, a large amount of LTC investors bought at levels that are coming ahead.

Trending: RIGGING 2024: Biden Regime’s MASS AMNESTY is a Mass ILLEGAL VOTER Scheme

Below is the IntoTheBlock chart that shows the distribution of LTC addresses based on the price at which they last bought their coins on the network.

Here, the size of the dot correlates to the amount of cryptocurrency acquired in the corresponding price range. As is clearly visible, the $81.64 to $83.88 range has a large dot associated with it, meaning that

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!