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Litecoin's share in global payments is increasing but LTC investors are disappointed; what is the situation with LTC whales?
Examining Litecoin's hourly technical chart, it can be seen that price movements continue above the $64.83 support level. The price appears to be intending to rise towards the $67 level. However, if stability cannot be maintained, there may be pullbacks.
The cryptocurrency market is far from its shining days during the 2021 bull season, with investors grappling with excessive sales for the past two years. This situation underscores that profiting from cryptocurrencies is not as easy as it is often touted during a bull season. Many investors who considered themselves highly skilled when everything was on the rise have been waiting in losses for two years because they could not sell at the right time.
Litecoin is showing upward potential by trading above the $64 support level. Hourly closes above $64 highlight targets such as $66 and $67.50. Daily closes above $67.50 could extend the upward trend to $70, otherwise the $63 and $61.69 supports become important.
Litecoin is one of the rare cryptocurrencies that remained in positive territory in the last 24 hours: Will LTC sustain this resilient price movement? Can it face selling pressure?
When examining the 3-hour technical chart of LTC, it can be seen that it has risen with a strong buying response from the $75.69 - $77 range. If the price stays above $77, the target of $78.60 comes to the forefront. However, closes below $75.60 can trigger a decline. It is important for LTC to stay above $75 to reach the targets of $80.68 and $87.
The observed support and resistance levels in Litecoin's technical chart provide important clues about its future movements. Encountering strong buying reactions can initiate an upward trend, while closing below critical supports can accelerate the decline.
Did the Halving event, eagerly awaited by the Litecoin community, deliver what was expected for the LTC price? Will Bitcoin share the same fate as Litecoin?