Litecoin (LTC) is experiencing a minor decline, down by 1.05% to $63.20 this week, following a brief recovery from $62.27 earlier on Monday. The price has faced resistance at the $70.00 level, marking the fourth failed attempt to break through this resistance in the last six weeks. Despite the price struggle, whale accumulation and heightened social media activity around the project have been increasing, signaling strong community interest.
From a technical analysis perspective, Litecoin's primary scenario points towards a potential rise back to the $70.00 mark. However, this bullish outcome is likely contingent on broader market conditions, particularly the performance of Bitcoin (BTC). If BTC prices surpass $60,000, it could provide the momentum needed for LTC to rally and break through the resistance level.
