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It seems that whale manipulation has prolonged Litecoin’s consolidation, keeping the LTC value confined between $90 and $130 over the last three months.
Despite a 40% increase during this timeframe, the leading altcoin has faced challenges in surpassing the $130 mark—a resistance area that has limited its recent upward efforts.
While its latest attempt aimed to break this cycle, a bullish trend has once again been stalled.
LTC Price Analysis: What’s Preventing the Bulls from Advancing?
This rejection reinforces what IntoTheBlock recently highlighted as a distinct pattern of whale manipulation, coinciding with the $130 resistance and $90 support levels.
LTC / USDT 1D chart, symmetrical triangle breakout. Source: TradingView.
It is plausible that another $90 low could follow if this trend continues, indicating an 18% drop from current prices.
Although all technical indicators suggest a solid foundation for growth, retail investors appear hesitant to engage with Litecoin, leaving price movements predominantly influenced by whales.
The Relative Strength Index (RSI) remains steady at 60, while the MACD stays above the signal line—both indicators suggest that the bulls retain control.
If a breakout occurs, it could validate the potential of a significant symmetrical triangle pattern that has been developing since early 2022.
While much of the momentum post-breakout has already been realized, the pattern still sets a target of $180, representing a possible 47% increase.
When Will Retail Investors Return?
In light of this challenging situation, fundamentals are likely to be the driving force in attracting retail interest and facilitating a breakout.
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Crucially, the recent SEC acknowledgment of spot LTC exchange-traded fund (ETF) applications initiates a 240-day countdown to the final decision deadline in mid-October.
However, approval could arrive much sooner, as Canary Capital’s LTC ETF has recently appeared on the Depository Trust and Clearing Corporation (DTCC) ETF list.
The DTCC listing represents a preparatory step towards its potential launch, although final approval is still pending.
With its introduction, increased demand could provide Litecoin with the necessary impetus to overcome the $130 resistance.
Litecoin May Not Experience the Best of this Bull Cycle
Those who turned to Litecoin as an alternative to Bitcoin (BTC) might need to reconsider, as Bitcoin Bull (BTCBULL) offers a new way to benefit from the leading cryptocurrency’s upward momentum.
True to its name, Bitcoin Bull links its tokenomics to Bitcoin’s price appreciation within a deflationary framework.
The project burns tokens and distributes BTC airdrops whenever Bitcoin reaches significant milestones—starting at $125,000 and triggering new rewards for every subsequent $25,000 increase.
With some analysts predicting BTC peaks of $250,000 this cycle, BTCBULL could become a valuable asset for Bitcoin enthusiasts.
Having raised nearly $2.8 million in its first two weeks, the project is already gaining significant traction—potentially attributed to its 157% APY on staking that rewards early investors.
You can follow Bitcoin Bull on X and Telegram, or join the presale on the Bitcoin Bull website.
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