Litecoin hodlers have been accumulating but will LTC price see another leg down first?
a total of 3,458 LTC transactions worth over $100,000 on April 5, calling it"an indicator of mid-term price direction shifts."continued its correction move on April 6, down 13% from recent highs of $135 on March 30.Whales are an influential cluster of investors since they hold a comparatively large amount of coins, whose movements can intentionally or unintentionally move markets in either direction.
Santiment's chart revealed little about whether Litecoin whales purchased, sold, or merely transferred their LTC holdings to other addresses. However, it showed that spikes in daily whale transactions have been preceding price declines in theOver the last ten days, Litecoin has experienced modest selloffs upon twice testing its 20-week exponential moving average near $133.LTC's price declined by nearly 7.5% week-to-date to drop below $120.
an early rebound in LTC/USD, citing a"falling wedge" — a bullish reversal pattern that starts wide at the top but contracts as prices move lower."LTC now pulling back for a post-breakout retest of the Falling Wedge top," he noted in reference to the chart above, adding: "This Falling Wedge diagonal is confluent with the green Range Low area . LTC will be looking to hammer out a base in this area."
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