Litecoin Shines Positive
Litecoin (LTC) is declining by 2.0% to $72.28 this week, but it is consolidating above the key resistance level at $70.00, which was surpassed on July 15. This indicates the altcoin’s strength. However, some crypto enthusiasts have noted a decrease in whale activity, which has dropped by 23.0% to $2.6 billion over the last several weeks. This decline could be attributed to various factors that are not necessarily negative.
Other technical signals suggest positive prospects for Litecoin. An inverse Head and Shoulders pattern has emerged on the chart, which could push LTC prices up by 20.0% to $87.00. The current consolidation phase also supports an upside scenario with a target of $80.00. Legendary trader John Bollinger has predicted that Litecoin is poised for a major upside move, further reinforcing the bullish outlook.
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