Litecoin Crashes After Flirting With $130—What’s the Drama? 🤦‍♀️

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Litecoin (LTC) price started the week like a peppy morning jogger, only to trip over its own shoelaces by the midweek. The $130 resistance level? More like a brick wall, really. Bears are having a field day, dragging Litecoin’s awkward attempt at growth into the mud. Oh, and if you were hoping for some breakout action—spoiler alert—it’s the only coin in the top 20 putting on its red “negative price” badge of shame. 👏

Litecoin Price Trend: Cue the Dramatic Reversal

Currently, LTC is clinging to $128.70 like a cat on a ledge, down a theatrical 4.60% in just 24 hours. It ping-ponged between $126.31 and $136.59, but let’s not get too excited about that high—it’s already slumped right back down, as is tradition. Here’s the juicy bit: Litecoin has attempted the $130 drama only twice in the past week. Each time? Yup—sharp drop within a day. But hey, sentiment is still high, and they say it’s just a “cool-off.” Sure, Jan.

Despite this, Litecoin loves an underdog story. It’s up 5.91% over the past 30 days and 43.43% over the last three months. Don’t forget the good ol’ Year-to-Date (YTD) gains of 22.43%. Oh, remember that one time it popped over 70% while the broader market was burning? Yeah, we’re still bragging about that. 🎆

Litecoin Technicals: The “Rebound Coming Soon” Saga

Let’s zoom into the tea leaves, or as technical analysts call it—the charts. Trading volume dropped by 28.74%. Oh no, right? Actually, no 🙃. This just tees Litecoin up for what could be a dramatic rebound. On the LTC/USDT 4-hour chart, the Relative Strength Index (RSI) lounges at a comfy 56—above the dreaded neutral zone. Plus, it’s still hovering above that key 50-day Moving Average, screaming, “Hey, I’m not dead yet!”

Also, Litecoin still boasts a gobsmacking 74% profitability with over 56.75 million coins in green territory. Translation? There’s no existential crisis forcing investors to panic-sell. Blame the short-term traders for this one. You know, the ones with the attention span of a goldfish.

The Litecoin ETF Wild Card

Even with the selloff drama, LTC investors are holding onto optimism like it’s a winning lottery ticket. Why? Enter the magical words: spot Litecoin ETF. US SEC approval? A solid 90% chance according to our Bloomberg besties Eric Balchunas and James Seyffart. That’s higher than any other boring rival. 🥂 Polymarket adds some juicy forecasts to the mix, validating Litecoin’s recent mini-rally and painting a picture of unicorns and rainbows for its future.

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2025-02-20 23:54