More downward pressure could be likely for LTC after rejection from an FVG zone alongside a weak BTC.
Litecoin’s [LTC] Price PredictionBut history doesn’t always dictate the future. Although the halving could prop up LTC’s value, it must clear the Q1/Q2 price ceiling of $104 to inflict more gains. But a weakSource: LTC/USDT on TradingView
A recovery attempt after a sharp fall from $95 was thwarted near $89. Price has been reacting to $89 for a while now, swinging between support and resistance. However, the level aligned with an FVG zone of $88.7 – $92.4 . This could make the area a solid bearish zone. A recent recovery attempt was stalled in the FVG zone, pushing the price below $89 at press time. As such, sellers could camp at this bearish area and attempt to seek gains at $84 or the demand zone below $77.5.
Above the bearish area lays a bearish order block and supply zone stretching from $95 to $104. The level is also a Q1/Q2 price ceiling. So, any move beyond the FVG zone could face another likely pullback from this supply zone unless BTC inflicts a bullish bias on the higher timeframe. In the meantime, LTC recorded steady accumulation from 8 May, as shown by the rising Accumulation/Distribution indicator. However, the RSI retreated to the lower range in June and was rejected at the median level – elevated short-term selling pressure.With a weak BTC, long positions were wrecked than short positions. In the past 4 hours before press time, close to $80k worth of long positions have been liquidated.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Kirk LaPointe: If trade with Asia is the future, why did B.C. nix its trade program?We may never know why the province chose to shutter what was a small investment for a large return, writes Kirk LaPointe
Lire la suite »
Why Sergei Gonchar is the Hockey Hall of Fame’s most overlooked defensemanThe HockeyHallFame's Class of 2023 candidates: Will Sergei Gonchar's overqualified resume ever be acknowledged? Players who peaked in the Dead Puck Era tend to be unfairly overlooked by the HHOF, writes AdjustedHockey:
Lire la suite »
China is drilling one of the world's deepest holes, here's why
Lire la suite »
CAKE’s May success may not carry into June: Here’s whyDespite multiple migrations, PancakeSwap v3’s transactions declined in May. CAKE’s state was also concerning, as metrics were bearish.
Lire la suite »
Top trending celebrity perfumes and why to try themCould these trendy celebrity perfumes be love at first scent?
Lire la suite »
Why you should be wearing an N95 mask today in OttawaIf the level of fine particulate in the air reaches 60 micrograms per cubic metre, Envornment Canada issues a warning. Ottawa hit 260 today.
Lire la suite »