Litecoin big fall commenced to $49 thanks to RumpThe operational costs are rising sky high for Litecoin which is becoming very expensive to mine.
And based on the Crypto Depression, it seems like there is more downside to come for the alt coin due to some of the following:
📉 Weak On-Chain Activity
Fewer active wallets and transactions lately—shows low interest.
🔻 Bearish Price Action
LTC just broke key support levels on the chart—bad sign for bulls.
💼 Lack of Big Investor Moves
No major whale activity—institutions are sitting this one out.
📉 ETF Hype Fading
Talk of a Litecoin ETF has cooled off—momentum’s dying down.
Technicals also look bad including:
Inv Cup and Handle
Price<20 and 200
Target $49.60
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
