Unfortunately, most investors were buying the rumor in terms of $LTC and the upcoming halving confirms this message
. This commonly observed market phenomenon occurs when the anticipation of an event leads to a price surge, followed by a sharp decline when the event actually takes place.
The social dominance of Litecoin has understandably seen a spike, with many stakeholders showing signs of panic as the countdown to halving continues. For many, enduring the current LTC volatility is proving to be a challenging endeavor. has already lost around 5% of its value, and there is potential for a further decline. Selling activities are evidently on the rise, putting additional downward pressure on the already declining price.
A pivotal moment occurred when LTC fell below the 50-day Exponential Moving Average , a significant support level for the cryptocurrency. This fall could potentially pave the way toward the 200-day EMA, which, if reached, could precipitate a slide toward the lower border of the descending price channel at around $66.
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