Litecoin (LTC) Trades Below $80 Amidst Increased Activity

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Cointime2024/05/15 09:46

By:Cointime

Today's analysis examines the recent price action and on-chain activity of Litecoin (LTC) to understand its underlying trends and potential future mid-term movements. As Bitcoin struggles to break the $61K price level, pressure on LTC has led it to trade below the critical $80 support level. The $80.37 level, near the $80 mark, aligns with the 0.618 Fibonacci retracement level and is crucial mid-term support. Traders should wait for the price to drop below $75 before buying, with an ideal buy range of around $70-$72 for an optimal entry position.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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