The post Litecoin Validates A Bearish Pattern – Will LTC Price Force Buyers To Exit? appeared first on Coinpedia Fintech News
As Bitcoin price struggles to maintain its momentum above the crucial $28K mark, it triggers a selling wave in leading altcoins. The ‘Uptober’ trend appears to be fading as leading altcoins, including LTC, flash red, signaling potential dips after validating a bearish pattern. With several on-chain data now indicating bearish signs, LTC price seems poised for another surge of selling pressure.
Litecoin’s Long/Short Ratio Surges Near The Dip
Following a drop in LTC price from $68, buyers rushed to sell off their positions to sidestep further losses. Coinglass data unveils that almost $1.6 million in long positions were liquidated in the past 48 hours. This activity has gradually strengthened the resistance level, paving the way for sellers to potentially capitalize on reversing the trend.
Additionally, Litecoin’s trading interest has declined, evidenced
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