Litecoin Remains Stuck in $90 to $130 Range Due to Exchange Netflow Patterns
IntoTheBlock analyzed Litecoin's recent price consolidation between $90 and $130, attributing it to Exchange Netflow patterns.
Key Insights
- Exchange Netflow tracks the net amount of Litecoin entering or exiting centralized exchanges.
- Positive netflow indicates higher inflows, often linked to selling, suggesting bearish sentiment.
- Negative netflow suggests accumulation by investors, potentially indicating bullish trends.
- Recent trends show increased deposits during price spikes and outflows during dips.
- This behavior has maintained LTC in a trading range for three months.
- Current netflow remains neutral, with inflows balancing outflows.
Litecoin recently rose nearly 3% to $127 amid a broader market decline.
