{"id":150210,"date":"2023-09-05T20:44:12","date_gmt":"2023-09-05T15:14:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=150210"},"modified":"2023-09-05T20:44:12","modified_gmt":"2023-09-05T15:14:12","slug":"will-it-sustain-above-the-60-mark-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-it-sustain-above-the-60-mark-crypto-news\/","title":{"rendered":"Will it Sustain Above the $60 Mark? – Crypto News"},"content":{"rendered":"

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Litecoin (LTC) has found itself in a tight consolidation phase, firmly locked within the $60 to $70 range since mid-August. Despite several attempts to break above the $70 resistance level, bulls seem to be running low on aggressiveness.<\/span><\/p>\n

As of the latest data from <\/span>CoinGecko<\/span><\/a>, LTC is trading at $62.99, reflecting a 1.8% decline over the past 24 hours and a seven-day slump of 3.1%.<\/span><\/p>\n

In recent weeks, LTC bulls have diligently defended the August 2022 range-high of $63, preventing a drop below this crucial support level. However, their efforts to push the price beyond $70 have proved futile.\u00a0<\/span><\/p>\n

Litecoin Bulls Defend Key Levels But Face Technical Challenges<\/strong><\/h2>\n

A closer look at the <\/span>technical indicators<\/span><\/a> reveals that the H12 bearish order book and the 50-day Exponential Moving Average (EMA) are posing significant challenges for the bulls.<\/span><\/p>\n

Analysts believe that Litecoin could continue its consolidation above the $63 range-high in the coming hours or days. Still, the prevailing bearish pressure could hinder any substantial upward movement in the near term.<\/span><\/p>\n

LTC\u2019s Struggle Amid Growing On-Chain Activity<\/strong><\/h2>\n

Surprisingly, despite Litecoin\u2019s price consolidation, its on-chain data has shown increased activity in its ecosystem. According to a <\/span>separate report<\/span><\/a>, over the past four months, the share of Litecoin in global cryptocurrency payments has surged by an impressive 21%.\u00a0<\/span><\/p>\n

This suggests that despite the stagnant price, Litecoin remains a popular choice for transactions.<\/span><\/p>\n<\/p>\n

Litecoin market cap currently at $4.6 billion. Chart: TradingView.com<\/a><\/pre>\n
Sell Limit Orders And Bearish Sentiments<\/strong><\/h3>\n
To complicate matters further for LTC, order flow tracking platform Mobchart cited in an <\/span>analysis<\/span><\/a> significant sell limit orders at $66 (3.11k LTC) and $70 (3.26k LTC) on Binance Exchange\u2019s spot market.\u00a0<\/span><\/p>\n
These levels are strategically positioned between the H4 50-EMA and the H12 bearish order book, effectively forming a formidable barrier for Litecoin\u2019s price to overcome. This adds to the growing challenges faced by LTC bulls in their quest to push the price higher.<\/span><\/p>\n
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LTC seven-day price movement. Source: CoinMarketCap<\/a><\/pre>\n
Moreover, sentiment around Litecoin has been increasingly bearish in recent times, as indicated by a separate report revealing that LTC bears have strengthened by 19% in the past week. This surge in bearish sentiment has likely contributed to the current downward pressure on LTC\u2019s price.<\/span><\/p>\n
Litecoin (LTC) remains trapped within the $60 to $70 range, with technical indicators and significant sell orders acting as obstacles to any substantial price movement. <\/span><\/p>\n
Despite on-chain activity showing promise, growing bearish sentiments continue to weigh on LTC\u2019s price, making it a challenging period for Litecoin investors and enthusiasts.<\/span><\/p>\n
(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from CMC Markets<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Litecoin (LTC) has found itself in a tight consolidation phase, firmly locked within the $60 to $70 range since mid-August. Despite several attempts to break above the $70 resistance level, bulls seem to be running low on aggressiveness. As of the latest data from CoinGecko, LTC is trading at $62.99, reflecting a 1.8% decline over […]<\/p>\n","protected":false},"author":2,"featured_media":150211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-150210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=150210"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150210\/revisions"}],"predecessor-version":[{"id":150213,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150210\/revisions\/150213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150211"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=150210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=150210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=150210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}