Litecoin Drops to $102 as Bulls Struggle to Defend Key Support
Litecoin (LTC) has experienced a significant decline, dropping from $130 to $100 due to heightened selling pressure in the crypto market. Key points include:
- LTC is currently at a crucial support level of $100.
- Market uncertainty raises concerns about its ability to maintain this level.
- Analyst BigCheds indicates repeated tests of the $100 level increase the likelihood of a breakdown.
- If LTC fails to hold above $100, further declines may follow.
- Resistance remains strong around $130-$140, keeping LTC in a tight trading range.
- A breakout above $130 or a drop below $100 will determine LTC's next major price movement.
LTC is trading at $102, testing critical support levels. The current price action reflects both supply and demand zones, with traders closely monitoring whether it can sustain its position or if selling pressure will intensify.
