Litecoin (LTC) Displays Consolidation – Can We Expect A Reversal Soon?

Litecoin (LTC) Displays Consolidation – Can We Expect A Reversal Soon?
The Litecoin price has shown considerable recovery ever since it reached its bottom in December 2022. LTC secured almost 50% appreciation in January this year. Currently, however, the altcoin has witnessed a price pullback and is consolidating on its daily chart. Over the last 24 hours, the Litecoin price moved down by 0.3%, which signified a range-bound movement. The altcoin also lost close to 3% of its market value. The technical outlook of Litecoin pointed towards bullish momentum as demand for the altcoin remained high on the daily chart. Related Reading: Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish? Accumulation also reflected the same. Price noted a decline as LTC receded from the overbought zone. Buyers still have the upper hand on the chart. A continued fall in accumulation will cause bears to secure Litecoin’s price action. That momentum would continue for the upcoming week, causing LTC to fall below its nearest support level. At the time of writing, LTC was trading 78% below its all-time high set in 2021. Litecoin Price Analysis: One-Day Chart LTC was trading at $88.11 at ..

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