Crypto
Litecoin Price Predicted to Pull Back to $68-$70 Before Next Leg Up
Litecoin's price has been trading at $72.04, but technical indicators suggest it may be due for a pullback. The Relative Strength Index (RSI) is pinned at 81, indicating overbought conditions, and the Moving Average Convergence Divergence (MACD) histogram is dead flat, showing momentum has stopped accelerating.
The setup is screaming short-term pullback toward $68-$70 before any real continuation. Bulls stay in control above $68, but the chart is showing signs of exhaustion.
The smart money is long on Litecoin, with 74% of top traders holding a bullish position. However, the taker buy/sell ratio at 0.9070 shows that sell volume is outpacing buy volume, which could lead to a violent resolution in either direction.