Will Litecoin wear? $ 113 becomes a key after the last rejection cryptoforbs

Litecoin left the recent measures of merchants at a crossroads, as the cryptocurrency is struggling to recover from sharp rejection at $ 131. After an attempt to pay up, LTC failed to keep its momentum, and turn $ 113 to a critical level that could constitute its next step. With the upcoming hopes that depend on this main support, can Litecoin wear, or is the negative aspect of it without escaping?

The market closely monitors the signs of strength from buyers, as keeping this level is likely to rule the bullish momentum and paves the way in another march. On the other hand, the Litecoin collapse can offer deeper losses, causing sellers to control.

With uncertainty on the horizon, merchants are preparing for the next large movement of LTC. Let’s be exposed to the main technical levels and what it means to the future of LTC.

LTC Rejection: What does this mean for a short -term direction

After the rejection that stopped the bullish momentum at 131 dollars, Litecoin continued to show the tendencies of Haboodi, and is struggling to restore the rising traction. The failure to penetrate the main resistance level has strengthened the dominance of the sellers, which has now a decline aimed at optimistic expectations in the short term.

With $ 131 as a huge barrier, buyers were unable to maintain the gathering, which ultimately allows the sales pressure. Her rejection indicates that many merchants choose to lock profits, which reduces demand and weak bullish momentum. The decrease in purchase of interest at higher levels indicates a frequency between investors, perhaps due to uncertainty in the broader market or lack of confidence in future performance.

In addition, the main technical indicators flashing caution signs. The RSI, which measures momentum, tends to a decrease and approaches a 50 % threshold, which is the critical level that often determines whether the bullish or homosexual feelings prevail.

The constant decrease without this level would reflect poor purchase strength and increase the pressure pressure, which enhances the possibility of more negative movement.

What next? Possible scenarios for Litecoin price

If the support level of $ 113 is strong, Litecoin may attract a renewal attention to purchase, which leads to a possible bounce. An increase in the oud LTC momentum to restore the lost land and re -test the resistance level of $ 131. Breaking this barrier over this barrier, with the support of a strong size, may open the door to attend the rally about $ 146.8 and beyond, indicating a continuation of the upward trend.

On the downside, if the pressure pressure is intensified and Litecoin decreases to less than $ 113, then the following major support levels that must be seen will be 97.9 dollars and $ 89.7. The decrease from these levels can lead to a deeper correction, which exposes the LTC to the risk of reviewing the low price areas.

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